Remittance surged 30 percent year-on-year in July, the first month of the current fiscal year, maintaining buoyancy in inflows as more than 40 lakh Bangladeshis have gone abroad for work over the past four years.
Remittance in Bangladesh crossed $30 billion for the first time and rose by a record $6.4 billion in the fiscal year 2024-25.
Remittance inflows crossed the $30 billion mark on Saturday, two days before the fiscal year is due to end, making it the highest receipts yet in Bangladesh’s history.
Bangladesh recorded a sharp rise in remittance inflows in May, as migrant workers sent more money home in the run-up to Eid-ul-Azha, which falls in early June.
Remittance inflow in the first ten months and eleven days of this fiscal year surpassed $25 billion, breaking all previous records.
Bangladeshi migrants sent home $2.75 billion in the month
While Saudi Arabia remains the top destination for Bangladeshi migrant workers, it is the United States (US) and the United Arab Emirates (UAE) that are leading in remittance contributions despite hosting comparatively smaller migrant populations.
Bangladesh received a record $3.29 billion in remittances in March -- the highest monthly figure to date -- marking a 65 percent year-on-year surge.
Remittance inflow posted a 65% year-on-year jump
Remittance surged 30 percent year-on-year in July, the first month of the current fiscal year, maintaining buoyancy in inflows as more than 40 lakh Bangladeshis have gone abroad for work over the past four years.
Remittance in Bangladesh crossed $30 billion for the first time and rose by a record $6.4 billion in the fiscal year 2024-25.
Remittance inflows crossed the $30 billion mark on Saturday, two days before the fiscal year is due to end, making it the highest receipts yet in Bangladesh’s history.
Bangladesh recorded a sharp rise in remittance inflows in May, as migrant workers sent more money home in the run-up to Eid-ul-Azha, which falls in early June.
Remittance inflow in the first ten months and eleven days of this fiscal year surpassed $25 billion, breaking all previous records.
Bangladeshi migrants sent home $2.75 billion in the month
While Saudi Arabia remains the top destination for Bangladeshi migrant workers, it is the United States (US) and the United Arab Emirates (UAE) that are leading in remittance contributions despite hosting comparatively smaller migrant populations.
Bangladesh received a record $3.29 billion in remittances in March -- the highest monthly figure to date -- marking a 65 percent year-on-year surge.
Remittance inflow posted a 65% year-on-year jump
The inflow was 82.46 percent higher than the same period last year, according to industry insiders.
