Bangladesh has witnessed a notable surge in remittance inflow from July to October this year, as compared to the same period last year, according to data provided by the Bangladesh Bank.
The total remittance inflow for this period stands at $8.938 billion, marking a sharp rise from the $6.878 billion recorded between July and October 2023.
In October 2024 alone, the remittance inflow reached an impressive $2.395 billion, significantly higher than the $1.971 billion received in October 2023.
The increase is attributed to the growing number of Bangladeshi workers abroad, improved remittance channels, and seasonal inflows as expatriates send funds to support their families in Bangladesh.
Surge in remittance: $1.94 billion sent through legal channels till Oct 26
A record-breaking figure was also observed on October 31, when remittances reached $98 million in a single day.
Economists have highlighted the positive impact of these figures, noting that robust remittance inflows can boost domestic consumption and help the country mitigate the impacts of external economic pressures.
Bangladesh Bank officials are optimistic that sustained remittance inflows will support ongoing efforts to strengthen the nation's economic standing.