The inflow of remittances into the country has recorded a notable upturn in the first four days of May, signalling renewed strength in foreign currency earnings and offering a positive outlook for the broader economy. According to the latest data released by the central bank, expatriates sent home the equivalent of USD 456 million during this short period.
This translates to an average daily inflow of approximately USD 114 million, underscoring a robust and steady flow of remittances at the beginning of the month. Such performance is being viewed by economists as an encouraging indicator of external sector stability.
A spokesperson for the central bank confirmed that the figure represents a significant improvement compared with the same period last year. In the corresponding four days of the previous year, remittance inflows stood at USD 312 million, meaning this year has witnessed a substantial year-on-year increase.
Strong Growth Trend in Fiscal Year
From July to 4 May of the current fiscal year, total remittance inflows reached USD 29.79 billion. This marks an increase of nearly 19.9 per cent compared with the same period of the previous fiscal year. Analysts argue that this growth has played a crucial role in stabilising foreign exchange reserves and easing pressure on the balance of payments.
Economists attribute this sustained upward trend to several structural and policy-related factors. These include increased overseas employment opportunities, stronger incentives for formal banking channels, and stricter monitoring of informal money transfer systems. In addition, competitive remittance incentives offered by banks have encouraged expatriates to send money through legal channels.
Improved labour demand in key overseas markets, particularly in the Middle East, has also contributed significantly. Employment expansion in construction, domestic services, and hospitality sectors has helped maintain a steady flow of earnings from migrant workers.
Monthly Remittance Overview
| Period | Remittance (USD) |
|---|---|
| May (first 4 days) | 456 million |
| April | 3.127 billion |
| March | 3.755 billion |
| February | 3.027 billion |
| January | 3.175 billion |
| December | 3.227 billion |
| November | 2.892 billion |
Outlook
Despite monthly fluctuations, the overall trajectory remains firmly upward. March recorded one of the highest monthly inflows in recent months, reflecting strong underlying momentum in overseas income generation.
Financial analysts suggest that if the current trend persists, the country may set a new remittance record by the end of the fiscal year. This would further strengthen foreign exchange reserves and help ease import-related financial pressures.
Overall, the sustained rise in remittance inflows continues to serve as a critical pillar of economic resilience, supporting macroeconomic stability and reinforcing the country’s external financial position.