The value of transactions conducted by Bangladeshi outside the country totalled Tk532 crore in January 2024 -- down by 8.16% from Tk579 crore in December 2023.
However, credit card transactions within Bangladesh experienced a marginal increase of 0.15% in January, reaching Tk2,678 crore, compared to Tk2,674 crore in December 2023, according to Bangladesh Bank data.
Transactions made with credit cards issued by foreign entities for use within Bangladesh dropped to Tk181 crore in January -- down from Tk184 crore in December 2023 -- representing a decrease of 1.35%.
The spending habits of credit cardholders engaging in cross-border transactions mirrored the domestic pattern in January 2024.
These cardholders primarily used their cards abroad at departmental stores, accounting for nearly 27.46% of transactions, according to the central bank data.
Other notable categories included retail outlet services (15.81%), drugs and pharmacies (12.33%), cash withdrawal (10.26%), clothing (8.91%), transportation (6.92%) and various other categories (18.30%).
The breakdown of cross-border transactions by country shows the majority occurred in India, accounting for nearly 18.14%, as per the central bank data.
Bangladeshi nationals using credit cards in India saw a 16.5% drop in January 2024, according to Bangladesh Bank data.
The value of credit card transactions in India by Bangladeshis fell to Tk96.5 crore in January from Tk115 crore in December 2023, marking a 16.52% decline.
The remaining cross-border transactions were spread across various countries.
The United States accounted for 13.56%, followed by the UAE 11.62%, Thailand 10.50%, Singapore 6.82%, Saudi Arabia 6%, the UK 5.61%, Canada 5.15%, Malaysia 3.80%, Australia 2.76%, the Netherlands 2.22%, Ireland 2.18%, and other countries for 11.65%.
The central bank data also shows Visa cards were the most popular choice, accounting for nearly 71.10% of transactions.
Mastercard use came in at around 18.21%, while AMEX cards were used for about 10.52% of transactions.
A small number of transactions used other card types in January 2024.