Bangladesh’s expatriate community continues to play a pivotal role in sustaining the nation’s economy, providing a lifeline that strengthens its financial foundations. Their remittances, sent from across the globe, have once again demonstrated remarkable resilience and growth. Early data from December indicates a significant surge, hinting that this month could see remittance inflows surpass the $3 billion mark, a level that would provide a solid boost to the country’s foreign currency reserves.
According to Arif Hossain Khan, Executive Director and Spokesperson of Bangladesh Bank, between 1 and 20 December, the country received a total of $2.1721 billion in remittances. When converted to the national currency, this amounts to approximately BDT 26,500 crore, assuming an exchange rate of BDT 122 per US dollar.
Banking sector analysts have expressed optimism that if the current momentum continues, remittance inflows for the entirety of December could exceed $3 billion. Such a figure would not only reflect the continued support of the expatriate community but also strengthen Bangladesh’s foreign exchange market, providing a firm base for economic stability.
Comparing figures with the same period last year, remittances have increased from $1.983 billion to $2.1721 billion—a rise of nearly 9.5 per cent. This steady growth signals both the resilience of overseas Bangladeshi workers and the continued demand for their labour abroad.
Looking at the broader picture for the current fiscal year, from July to 20 December, the nation has received $15.21 billion in remittances, compared with $13.12 billion in the same period last year. This represents an increase of approximately 16 per cent, underscoring the critical contribution of expatriates to the country’s economy.
The previous month, November, also witnessed strong inflows, with $2.8895 billion sent home, equivalent to nearly BDT 35,252 crore. Analysts suggest that these trends point to a robust end to the calendar year, reinforcing the vital role of remittances in bolstering Bangladesh’s economic stability and sustaining its foreign exchange reserves.
As the year draws to a close, the remarkable performance of remittance inflows continues to provide a beacon of economic confidence, highlighting the indispensable role of the Bangladeshi diaspora in underpinning national growth.