International experts recorded the global Remittance market size was valued at $121.43 billion in 2025. The market is projected to grow from $132.18 billion in 2026 to $270.81 billion by 2034, exhibiting a CAGR of 9.4 percent during the forecast period. North America dominated the global remittance market with a share of 32.27 percent in 2025. Sources recorded that the remittance industry refers to the revenue generated from the transaction fees, foreign exchange margins, and service charges paid by service providers. Growing international migration, consistent demand across borders, technological advancements, fintech innovations and increasing access to banking solutions are few prominent factors driving market growth. Statistics showed that by mid-2024, there were an estimated 304 million international migrants, about 3.7 percent of the world’s population, a share that has grown gradually over time. The number of international migrant workers has been growing too, and during the decade from 2013 to 2022 this number increased by more than 30 million. Financial flows from migrants remain a key source of support. Remittances in 2024 were expected to reach an estimated $905 billion, including $685 billion to low- and middle-income countries. These flows now exceed official development assistance and foreign direct investment combined. The sources further highlight that access to migration opportunities remains uneven, with pathways expanding more for people in higher-income countries while remaining constrained for those in lower-income contexts, reinforcing global mobility inequalities. This trend is slowing labour mobility and reducing the potential economic gains migration can deliver. These developments come as global displacement remains at record levels. By the end of 2024, more than 120 million people were displaced worldwide, including refugees, asylum-seekers, and internally displaced persons. No doubt, remittances play a significant role in supporting the country’s external account, stimulating Pakistan’s economic activity, and supplementing the disposable incomes of remittance-dependent households. As per the State Bank of Pakistan (SBP) statistics, the inflow of overseas workers’ remittances into Pakistan reached at $3.54 billion in April 2026.
Remittances fell by 7.6 percent on month-on-month (MoM) basis and registered an increase of 11.4 percent on year-on-year (YoY) basis. Overseas Pakistanis in Saudi Arabia remitted the largest amount in April 2026, sending $842 million. The amount was up 16 percent compared to the $725 million sent by the expatriates in the same month last year. However, the amount was lowered by 8 percent compared to $919 million in March 2026. Inflows from the United Arab Emirates grew by 13 percent on a yearly basis, from $653 million in April 2025 to $735 million in April 2026. However, they fell significantly by 11 percent on a monthly basis. Remittances from the UK amounted to $564 million during April 2026, down by 4 percent as against to $587 million in March. Overseas Pakistanis in the US sent $318 million in April, a monthly fall of 11 percent from $359 million during March. Meanwhile, remittances from European Union (EU) countries clocked in at $432 million in April, recording a rise of 4 percent on a monthly basis from $414 million in March. Cumulatively, workers’ remittances grew by 8.5 percent to $33.86 billion during July-April FY26, as against to $31.21 billion received during the corresponding period last year. Meanwhile, the government of Pakistan promotes remittances through incentives and formal channels to sustain steady growth and ensure their role in economic stability. It is noted that the external account outlook remains fickle as FY2026 approaches closure. With crude oil prices elevated and import momentum likely to persist, the current account faces material pressure that domestic production cannot offset. It is also noted that remittances have transitioned from a supporting buffer to an essential stabiliser. Should inflows weaken, particularly from the GCC region, where concentration risk is acute, the external account could slide into deficit again. FX reserve targets have already been revised down by $1 billion, increasing reliance on external financing.