Remittances Hit Six Month Low

Bangladesh saw a 37% year-on-year surge in remittance inflows in April, with migrant workers sending $2.6 billion in the first 29 days, up from $1.9 billion during the same period last year, according to Bangladesh Bank data.

Bangladesh’s foreign exchange reserves have surpassed $22 billion for the first time in several months, driven by a notable rise in remittances and export earnings. According to IMF standards, the reserves reached $22.04 billion

Following Bangladesh’s decision to ban yarn imports via five land ports—Benapole, Bhomra, Sonamasjid, Banglabandha, and Burimari, which previously handled 30% of India’s yarn exports—Indian producers are shifting toward waterways and sea routes.

From July to April 29 of FY 2024-25, Bangladesh received $24.39 billion in remittances—already surpassing the total $23.91 billion recorded in the entire FY 2023-24, reflecting a 2% year-on-year growth, according to Bangladesh Bank data.

Bangladesh’s readymade garment (RMG) exports to the European Union (EU) soared by nearly 37% year-on-year to $3.69 billion in January–February 2025, supported by a 39% rise in shipment volumes. Despite this impressive growth, average unit prices fell by 1.46%, reflecting ongoing profitability challenges.

Bangladesh’s high import tariffs-averaging over 27%, nearly triple the global average-have long sparked debate but little reform due to concerns over revenue loss. With the country set to graduate from Least Developed Country (LDC) status next year, experts and business leaders stress the urgent need for tariff rationalisation to maintain export competitiveness.