Overseas Pakistanis send $3.9bn home in October, up 14%

Overseas Pakistanis send $3.9bn home in October, up 14%

The State Bank also raised its full-year forecast to $45 billion, while Saudi Arabia, the UAE and the UK remained the top sources of inflows.

Overseas workers sent $3.9 billion to Pakistan in October, up 14% from a year earlier and 8.5% from September's $3.6 billion, the State Bank of Pakistan said.

July to October inflows totalled $14.8 billion, up 14% from $13 billion in the same period last year.

Saudi Arabia was the largest source at about $982 million in October, followed by the UAE at $815.9 million.

The State Bank raised its FY27 remittance forecast to $45 billion from $44 billion, citing resilient first-quarter inflows.

East Capital analyst Emre Akcakmak said remittances now cover 100% of the external deficit and about 10% of GDP.