Remittance continues positive run
Remittance maintained positive growth, however slightly, in September thanks to a steady flow of money sent by migrant workers.
Last month's remittance receipt was $1.35 billion, up 0.75 percent from the same month a year ago, according to data from the central bank.
Remittance grew 12.5 percent to $1.2 billion in August from the previous month.
It, however, fell 1.75 percent to $3.94 billion in the first quarter of the current fiscal year compared with the same period last year.
The central bank expects remittance to grow by 10 percent this fiscal year, riding on increased manpower exports.
The number of Bangladeshis going abroad for jobs has increased slightly in recent times and there is a possibility of a large group to go to Malaysia in the next few months, an official of the central bank said.
Besides, manpower exports to Qatar and Oman are on the rise.
Between January 1 and September 2 this year, some 333,382 workers left for jobs abroad. Last year, 425,684 persons went abroad with employment.
In the first eight months of 2015, manpower exports reached 78 percent of the numbers achieved last year.
In the remaining four months, the numbers might hit five lakh, the official said.
Given the context, the central bank is hopeful of hitting this year's remittance target. Remittance income went up 7.65 percent year-on-year last fiscal year.
There are nearly one crore Bangladeshis living abroad. Their contribution accounts for about 60 percent of the country's foreign currency reserves.