ISLAMABAD: Pakistan received $3.3 billion in foreign remittances in February 2026, the central bank said on Tuesday, with the United Arab Emirates (UAE) and Saudi Arabia once again the largest contributors providing a vital boost to the country’s economic stability.
Foreign remittances are key for cash-strapped Pakistan as they increase foreign reserves, cushion the country’s current account and stabilize the national currency. As per data released by the State Bank of Pakistan (SBP), foreign remittances increased 5.2 percent on a year-on-year basis in February this year.
“Workers’ remittances recorded an inflow of $3.3 billion during February 2026,” the SBP said in a statement.
“Cumulatively, with an inflow of $ 26.5 billion, workers’ remittances increased by 10.5 percent during Jul-Feb FY26 compared to $ 24.0 billion received during the same period last year.”
The UAE remained the top source of foreign remittances in February with inflows recorded at $696.2 million, followed by Saudi Arabia with $685.5 million. The United Kingdom reported the third-highest inflows at $532 million while remittances from the United States totaled $319.5 million in February.
According to SBP data, remittances reached a record $38.3 billion in fiscal year 2024–25, up from about $30.3 billion the previous year, reflecting strong labor migration to Gulf countries and increased use of formal banking channels.
Millions of Pakistanis working abroad in Gulf countries, Europe and the US send money home to support their families. In recent years, Islamabad has sought to capitalize on this trend by encouraging the use of formal remittance channels and cracking down on illegal money transfer systems such as hawala and hundi.
