Remittance inflow to Bangladesh fell 5.86 percent year-on-year to $1.97 billion in July, central bank data showed today.
Supported by remittance, the families of Bangladeshi migrant workers are playing a crucial role in developing the country’s rural economy by not only purchasing goods, but also investing in different small-scale income generating opportunities, according to experts.
Nearly 8 lakh migrant workers went abroad in the first 10 months of the current fiscal year, comfortably exceeding the numbers a year ago, a development that bodes well for Bangladesh as it could pave the way for higher remittance earnings.
The remittance flow to Bangladesh is projected to decline by 22 percent due to the economic crisis induced by Covid-19 pandemic and shutdown, according to a World Bank report.
The remittance may reach USD18.19 billion with an increase of 17.05 per cent in the end of this year if its flow continues, according to a latest report.