In May, Bangladeshi expatriates sent $2.97 billion in remittances, marking the second-highest monthly inflow in the country`s history. This figure reflects a 31.7% increase compared to the same month last year.
Analysts attribute the surge to the upcoming Eid-ul-Azha, prompting many expatriates to send additional funds to support their families.
The highest-ever monthly remittance was recorded earlier this year in March, when $3.29 billion was sent ahead of Eid-ul-Fitr.
Data shows that during the first eleven months of the 2024–25 fiscal year (July to May), total remittances reached $27.51 billion.
This represents a 28.7% year-on-year increase, up from $21.37 billion during the same period of the previous fiscal year.
Experts point to several contributing factors: government initiatives encouraging legal remittance channels, strict measures against informal systems like hundi, and the continuation of financial incentives. Additionally, relative stability in global labor markets has positively influenced the trend.
Despite global economic uncertainty and ongoing dollar shortages, remittance inflows continue to grow steadily.
Economists believe this trend will strengthen the country’s foreign exchange reserves, though they emphasize the importance of sending skilled workers abroad, diversifying labor markets, and expanding incentive programs to ensure sustainable growth.
