Pakistan Remittances

Pakistan’s remittances hit a record $4.1 billion in March 2025, a 37% yearly increase, signaling economic recovery helped by IMF support. Key sources were Saudi Arabia ($987 million), UAE ($842 million), UK ($684 million), and the US ($420 million). Strong remittance growth reflects improved confidence as Pakistan stabilizes after avoiding default in 2022 with IMF loans. The central bank raised its remittance forecast for FY25 to $38 billion (from $36 billion) and expects forex reserves to reach $14 billion by June. Reduced dollar demand and a crackdown on informal currency trading have helped steady the rupee, down just 0.85% over the past year. The country also reported a current account surplus so far this fiscal year. Total remittances for July–March FY25 are up 33% to $28 billion from $21 billion in the same period last year.