Bangladesh remittance inflows rise 13.1% in six months

Remittance inflows to Bangladesh increased by 13.1 percent during the six-month period from March to August of this year. According to data from Bangladesh Bank, expatriates sent a total of $1.894 billion home, compared to $1.674 billion during the same period last year, representing an increase of $220 million.

Growth was observed in five of the six months. The highest growth rate occurred in August, which saw a 22.3 percent increase. Other notable monthly increases included May at 15.5 percent and July at 15.3 percent.

Major sources of these funds included Saudi Arabia, which contributed $3.08 billion, followed by the United Kingdom ($2.94 billion), the United Arab Emirates ($2.26 billion), the United States ($1.71 billion), and Malaysia ($1.48 billion). These five countries accounted for approximately 60.7 percent of the total remittance received during this period.