Bangladesh is set to surpass $25 billion in remittance inflows by June, marking a near-25% rise over the past fiscal year, a positive signal for its economy. As of May 7, Bangladesh has received $25.46 billion in remittances between July 2024 and May 7, 2025, compared to $19.72 billion during the same period in FY 2023–24. This impressive 27.7% growth reflects stronger inflows throughout the fiscal year, supported by record-breaking monthly figures. For instance, April saw an inflow of $2.75 billion, a 34.6% jump year-on-year, the second-highest monthly total on record. In March, the total inflows hit an all-time high of $3.29 billion, which is an impressive increase of 65% from the previous year. Moreover, in February, remittances grew by 25% compared to February last year, reaching a sum of $2.52 billion. These strong monthly performances have been fueled by festive demand and expanding formal banking channels. Bank analysts say the continued remittance growth is a “much-needed relief” for the economy helping replenish foreign exchange reserves and easing currency market pressures. As reserves stabilize, the central bank can better support import financing, stabilize the exchange rate, and manage external debt payments. Cornerstones of this upward trend include Large migrant workforce remittances during Ramadan and Eid seasons. Improved government support along with more stable exchange rates. Reduced informal (hundi) transactions due to stricter regulations. Finance experts note that formal inflows also help reduce the gap between official and open-market Taka–Dollar rates. They argue that if the current pace continues, remittances may cross $28 billion for the fiscal year, another national record. Looking ahead, the focus is on how remittances support economic recovery through funding household expenses, business investment, and improving reserves. The central bank and government are exploring options like targeted incentives for skilled migrants and cost-effective remittance channels to maintain this strong inflow. In summary, with the fiscal year nearly complete, Bangladesh’s near-25% surge in remittance earnings highlights the important role of migrant workers and formal banking efficiency in sustaining economic stability. If these trends hold, the country is set for another historic year of remittance performance.
