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Remittance inflows from the US Crossed $3 Billion

Economic Tag: Remittance

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.

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