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Remittance Hits Record $27.5b in 11 Months of FY2024–25
May Sees Second-Highest Monthly Inflow at $2.97 b
Bangladesh received a record $27.5 billion in inward remittances during the first 11 months (July–May) of the fiscal year 2024–25, marking the highest ever amount for this period, according to the Bangladesh Bank.
Remittance inflow surged significantly in May, reaching $2.97 billion—the second-highest monthly inflow in the country’s history. This figure represents a 31.7% year-on-year increase compared to $2.55 billion received in May of FY2023–24.
Between May 29 and 31 alone, expatriates sent $247 million in remittances, highlighting the continued strength of the flow ahead of the fiscal year’s end.
In comparison, during the same 11-month period of the previous fiscal year, Bangladesh received $21.37 billion in remittances. The latest figures reflect a robust 28.7% growth year-on-year.
A senior official at the central bank projected that total remittance inflows could exceed $30 billion by the end of FY2024–25—a milestone for the economy.
Monthly Remittance Inflows in FY2024–25 (July–May): March: $3.29 billion, May: $2.97 billion, April: $2.75 billion, February: $2.53 billion, December: $2.64 billion, January: $2.19 billion, October: $2.39 billion, September: $2.40 billion, August: $2.22 billion, November: $2.20 billion and July: $1.91 billion.
The sustained growth in remittances is seen as a major boost to the country’s foreign exchange reserves and overall economic resilience.
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