In the first two months (July–August) of the current FY27, remittance inflows to Bangladesh decreased from six out of the top ten source countries.
Conversely, inward remittances increased from four countries. However, despite country-specific fluctuations, overall remittance inflows in August saw a slight increase compared to July.
This information was obtained from relevant sources at Bangladesh Bank.
Generally, a major portion of Bangladesh's remittances comes from the Middle East and several Western countries.
The list of top remittance sources includes Saudi Arabia, the UK, the US, the UAE, Malaysia, Italy, Singapore, Kuwait, Oman, and Qatar.
In addition, significant remittances arrive from various other countries, including Bahrain, South Africa, France, South Korea, Jordan, Australia, Portugal, Greece, Canada, Spain, and Germany.
According to Bangladesh Bank data, remittance inflows decreased in August compared to July from Qatar, Oman, Kuwait, the UAE, the US, and Saudi Arabia.
- Qatar: Remittance inflows were $121.59 million in July, which fell to $113.09 million in August—a decrease of $8.5 million in one month.
- Oman: In July, $141.96 million was received, which fell to $133.96 million in August—a decrease of $8 million.
- Kuwait: In July, $148.74 million came in, but in August, it dropped to $143.70 million—a decline of $5.04 million in a month.
- Saudi Arabia: Remittance flow also dropped in August from Saudi Arabia, the largest source country. While $587.29 million came from the country in July, it decreased to $558.53 million in August—a decline of $28.76 million in a month.
- United Arab Emirates (UAE): In July, $255.56 million was received, which decreased to $249.52 million in August—a decline of $6.04 million.
- United States: Remittances in July stood at $273.18 million, which dropped to $266.41 million in August—a decrease of $6.77 million.
Remittances increases from four countries
On the other hand, remittances increased in August compared to July from the UK, Malaysia, Italy, and Singapore.
- United Kingdom: In July, $396.74 million came in, which rose to $458.09 million in August—an increase of $61.35 million in one month.
- Malaysia: Remittance inflows were $201.33 million in July, rising to $228.71 million in August—an increase of $27.38 million.
- Italy: In July, remittances stood at $203.11 million, which grew to $212.53 million in August—an increase of $9.42 million.
- Singapore: Remittance flow also saw growth, rising from $136.98 million in July to $150.19 million in August—an increase of $13.21 million.
Overall, although money flows decreased from six of the top source countries, they increased from four.
Consequently, despite country-wise fluctuations, total remittance flows trended upward in August compared to July.
Remittance inflows stood at $2.8586 billion in July and $2.9666 billion in August (which remains below $3 billion).
Meanwhile, if the ongoing Middle East conflict persists, there are fears that remittance flows to Bangladesh could decline.
Due to the war's fallout, employment opportunities for expatriates could shrink, raising the risk of job losses and return to Bangladesh.
Under such circumstances, experts recommend reducing reliance on the Middle East and creating employment opportunities in alternative countries.
"Although the ongoing war and energy crisis in the Middle East have created some pressure on the production sector of the global economy, it has not yet had a negative impact on Bangladesh's remittance flow. However, if the war is prolonged, there are concerns that expatriate income could be affected," said Arief Hossain Khan, spokesperson, Bangladesh Bank
"Although the ongoing war and energy crisis in the Middle East have created some pressure on the production sector of the global economy, it has not yet had a negative impact on Bangladesh's remittance flow. However, if the war is prolonged, there are concerns that expatriate income could be affected."
