Dhaka: The country’s remittance inflow experienced a significant year-on-year growth of 20.3 percent, reaching $752 million in the first six days of May, as per the latest data released by Bangladesh Bank (BB) today. This marks a substantial increase from the $625 million recorded in the same period last year.
According to Bangladesh Sangbad Sangstha, the steady rise in inward remittances highlights continued resilience in external earnings and stronger inflows through formal banking channels. Officials noted that this growth trend suggests a positive shift in the way expatriate Bangladeshis are sending money back home.
Data further revealed that expatriate Bangladeshis sent a total of $30,085 million in remittances during the period from July to May 6 of the current fiscal year. In comparison, the inflow was $25,163 million during the corresponding period of the previous fiscal year. This year-on-year increase underscores the crucial role that remittances play in the nation’s economy.
Analysts have pointed out that the upward trend in remittance earnings is expected to provide support to the country’s foreign exchange reserves. This financial boost is anticipated to help stabilize the external sector, ensuring a more robust economic posture for the country.