Remittances from expatriate Bangladeshi workers have exceeded US$10 billion in the first 11 months of the current fiscal year, up 14.9 per cent from the same period last year, the Bangladesh Bank revealed.
A senior official from the financial institution told All Headline News that remittances are forecast to reach $11 billion by the end of the financial year.
However, some $885 million worth of remittances sent from Bangladeshi expatriates around the world were recorded in May, a fall from the $922 million recorded in April.
The bank official told the news provider that the slight drop was mainly due to seasonal impact, adding that the flow of remittances will increase in June ahead of Ramadan.
Despite a decline in overseas jobs, the latest figures reveal that remittance inflow has shown steady growth, following on from last year’s growth of 22.41 per cent.
The figures follow research from the International Migration Organisation, which in May revealed that 73 per cent of Bangladeshi expatriate workers send home remittances through the legal channel.
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