Pakistan received a record $4.1 billion in workers’ remittances in March 2025 — the highest-ever monthly inflow — offering a much-needed boost to the country’s external account, the State Bank of Pakistan (SBP) reported on Monday.

According to the central bank’s latest data, this is the first time remittances have crossed the $4bn mark in a single month, reflecting the strength of overseas Pakistanis’ contribution amid ongoing economic recovery efforts.

Remittances surged by 37.3 per cent year-on-year compared to March 2024 and posted a month-on-month increase of 29.8pc over February 2025.

Cumulatively, during the first nine months of the current fiscal year (July–March FY25), total remittance inflows reached $28bn — a 33.2pc increase from $21bn recorded during the same period last year.

Saudi Arabia remained the largest contributor, sending $987.3 million in March, followed by the UAE with $842.1m, the United Kingdom with $683.9m, and the United States with $419.5m.

The record-breaking inflows come at a time when the government is seeking to stabilise the balance of payments and meet external financing needs amid IMF-backed reforms.

Exports to US also show positive trend

In a related development, Pakistan’s exports to the United States rose by 10.4pc during the first eight months of the current fiscal year, supported by rising demand and policy-level interventions.

According to official data, overall exports to North America grew by 9.7pc, reaching $4.2bn. A significant share — around 94pc — of Pakistan’s exports to the US consisted of textiles and garments, underscoring the sector’s pivotal role in the country’s export portfolio.

The rise in exports is attributed to trade facilitation measures introduced under the Special Investment Facilitation Council (SIFC) and reforms aimed at improving Pakistan’s trade competitiveness.