Remittance falls 3.57pc in 11 months

Inward remittances declined by 3.57 percent in the first 11 months of the fiscal year on the back of a shrinking outflow of migrant workers.
Between July last year and May this year, Bangladesh received nearly $12.93 billion in remittance compared to $13.41 billion in the same period last fiscal year, according to data from the central bank.
Migrants sent $1.2 billion in May, down by nearly $28 million from April this year. However, the remittance in May rose about 11 percent from the same month last year.
The overall fall in remittance is in keeping with the trend since last August, when it turned negative after sluggish growth since the first half of fiscal 2012-13.
Analysing data of the last 10 months, the Centre for Policy Dialogue on Sunday said inflow of remittances from six major Middle East countries declined by 16.2 percent.
The outflow of migrant workers from Bangladesh declined by 10.5 percent in the first 10 months of the current fiscal year, CPD said.