Remittances account for approximately 10% of gross domestic product in Pakistan and a better understanding of remittance drivers is needed to inform policies that can bolster their contribution to poverty reduction and other development priorities. To develop this understanding, the authors combined a database of bilateral remittances between Pakistan and its main remittance-sending countries with monthly macroeconomic data over 2003–2021, and applied a Bayesian vector autoregression model to assess the drivers. The macroeconomic variables identified included economic activity, inflation, equity markets, and interest rates—both in Pakistan and migrants’ host countries—and all play a significant role, although their contributions vary over time.