Staff Reporter :
The United States (US) has solidified its position as the leading source of remittances to Bangladesh, while the United Arab Emirates (UAE) has maintained second place for three consecutive months, according to data from Bangladesh Bank.
This notable shift follows political developments in August, which appear to have driven a significant increase in remittance inflows from the US, allowing it to surpass the UAE, historically the top contributor of expatriate income.
A detailed report from Bangladesh Bank, covering the three-month period from September to November in the fiscal year 2024-25, reveals that remittance inflows from the US amounted to an impressive $1.4 billion. In contrast, the UAE contributed $990 million during the same period, securing second place.
Other countries also made substantial contributions to Bangladesh’s remittance inflows. The top 10 contributors include Saudi Arabia, Malaysia, the United Kingdom, Kuwait, Italy, Oman, Qatar, and Singapore, following the UAE in descending order.
An analysis of monthly data reveals a steady upward trend in remittances from the US. In August 2024, the inflow totalled $293.4 million.
This figure saw a remarkable 34 per cent increase in September, reaching nearly $390 million. The growth continued in October, with remittances climbing to $500 million, representing a further 28 per cent rise from September. By November, remittance income from the US peaked at $511.9 million, highlighting sustained growth.
This unprecedented surge in remittance inflows from the US underscores its increasing significance as a key source of expatriate income for Bangladesh, a development with potentially significant implications for the country’s economy.
