Remittances grow by a record 3% in January

Bangladesh has recorded a total remittance inflow of $2.19 billion in the first month of the year. Bangladesh Bank reported that remittances increased by 3.40% in January compared to the same period last year.

The remittance inflow in January 2024 was at $2.11 billion. Data from the central bank shows that in January, state-owned and specialized banks received $627 million in remittances, while private banks received $1.55 billion. The country has received over $2 billion in remittances for six consecutive months.

Expatriates made history by sending the highest remittance for a single month in the history of Bangladesh in December last year through banking channels.

The previous highest was during the Covid-19 period in July 2020, when Bangladesh received $2.598 billion in remittances.

This was the highest ever till November 2024, as expatriates set a new record of sending $2.639 billion in remittances for a single month in December.

According to Bangladesh Bank’s latest data, from July 1 to December 31 in FY25, the country received $13.777 billion in remittances.

This was $10.80 billion during the same time of FY24. That means remittances saw a year-on-year (YoY) growth of almost $3 billion.

On the other hand, Bangladesh received nearly $27 billion in remittances in 2024, reflecting a 22% YoY increase.