By Moaaz Manzoor

Overseas cash inflows edged down to $3.54 billion in April 2026 from $3.83 billion in March, but remained higher than $3.28 billion recorded in February and $3.46 billion in January, indicating continued resilience in overseas transfers supporting the country’s external account position, according to data released by the State Bank of Pakistan (SBP).

Country-wise data showed that Saudi Arabia remained the largest source of inflows during April, contributing $841.75 million to the total cash flow. Although the amount was slightly lower than the $918.79 million recorded in March, it remained significantly higher than the $685.51 million received in February and the $767.38 million recorded in January.

The UAE remained the second-largest contributor, with inflows reaching $734.74 million in April compared to $696.22 million in February and $658.06 million in January.

Within the UAE, Dubai continued to dominate the inflows, contributing $566.52 million in April. Abu Dhabi added $129.22 million, while Sharjah contributed $18.46 million. Other emirates collectively accounted for $20.55 million during the month.

The United Kingdom remained another major source of inflows into Pakistan. According to the SBP data, inflows from the UK stood at $563.74 million in April 2026 compared to $532.11 million in February and $574.81 million in January.

Meanwhile, inflows from the United States stood at $317.58 million in April, slightly easing from $358.82 million recorded in March. However, the inflows remained broadly stable compared to $319.45 million in February and $296.34 million in January, indicating steady cash transfers from the North American region.

Other Gulf countries collectively contributed $325.48 million during April. Among them, Qatar contributed $105.40 million, Oman $94.71 million, Kuwait $75.10 million, and Bahrain $50.27 million.

The data further showed that European Union countries collectively contributed $432.21 million in April. Within the bloc, Italy remained the leading contributor in April, with inflows of $125.56 million, followed by Spain at $74.68 million and Germany at $73.36 million.

Other European countries also maintained stable contributions during the month. France contributed $44.19 million, Greece $48.05 million, Ireland $23.02 million, and Belgium $16.45 million.

Among other major economies, inflows from Australia stood at $96.88 million in April, while Canada contributed $64.23 million. Inflows from Japan reached $5.81 million, while Malaysia contributed $13.74 million during the month.

According to the SBP data, inflows from “Other Countries” collectively stood at $94.41 million in April compared to $96.32 million in February and $102.54 million in January.

The data showed that Gulf countries continued to account for the largest share in Pakistan’s overseas cash inflows, underlining the importance of the region for the country’s external sector.

Analysts believe sustained overseas inflows remain critical for supporting foreign exchange reserves, financing imports, and maintaining stability in the external account amid continued economic challenges.

Credit: INP-WealthPk