Remittance inflows from the United States to Bangladesh have exceeded $3 billion during the July-April period of the current fiscal year 2022-23, making it the largest sender of remittances to the country. According to a report from the Bangladesh Bank, remittances from the US reached $3,047 million in the mentioned period, compared to $2,870 million in the same period of the previous fiscal year. The US accounted for 17.2% of the total remittance inflow to Bangladesh. Saudi Arabia, which held the top position for remittance sending, ranked second with $3,039 million or 17.15% in remittances during the July-April period. Gulf Cooperation Council countries collectively contributed 51.01% of the total remittance inflow. The report highlights the significance of expatriate earnings for Bangladesh’s economy and attributes the positive trend in remittance inflows to fiscal incentives and supportive monetary policies.
Remittance inflows from the US Crossed $3 Billion
- Published On May 17, 2023
- 1:40 pm
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Economic Tag: Remittance
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