Bangladesh’s remittance inflows continue to show a positive year-on-year trend, hitting $2.3 billion in October 2024. This steady rise follows a $1.97 billion inflow in October of the previous year, marking a 16.75% growth over 12 months.
Hosne Ara Shikha, spokesperson and executive director of Bangladesh Bank, shared the update with KM News, also noting that September saw a slightly higher inflow of $2.4 billion.
This growth in remittances highlights the resilience of Bangladesh’s expatriate workers as well as ongoing initiatives to support remittance flow. Strong remittance inflows help maintain Bangladesh’s foreign exchange reserves, which stood at $19.87 billion at the end of October.
Bangladesh calculates its foreign reserves based on BPM6 standards, the international standard mandated by the International Monetary Fund. The steady remittance trend is critical for maintaining reserve stability and supporting the nation’s import and economic needs amid global economic shifts.
