July remittances jump 15.4pc

Bangladesh’s remittance earnings rose sharply in July, with expatriate workers sending home US$2.85 billion through official channels, providing a strong boost to foreign exchange inflows at the start of the 2026-27 fiscal year and reinforcing one of the country’s key sources of external financing.

According to the latest data released by Bangladesh Bank, remittance inflows during the opening month of FY2026-27 increased by 15.4 per cent year-on-year from US$2.47 billion received in July 2025.

The central bank’s data also showed that overseas Bangladeshis remitted US$152 million during the final two days of the month (July 30-31), reflecting continued strong inflows through formal banking channels.

The robust performance extends the country’s recent upward trend in remittance receipts, supported by government policy incentives and a growing preference among expatriate Bangladeshis to use legal banking channels for sending money home.

Economists said the sustained growth in remittance earnings is expected to strengthen Bangladesh’s external sector by improving the supply of foreign currency, helping to bolster foreign exchange reserves and easing pressure on import payments.

They noted that stronger remittance inflows also contribute to greater macroeconomic stability at a time when the country is facing rising external debt repayment obligations and persistent pressure on public finances.

Alongside export earnings, remittances remain one of the principal pillars of Bangladesh’s economy, playing a vital role in supporting foreign exchange reserves, financing imports and sustaining household consumption across the country.