According to data from the Bangladesh Bank (BB), remittances sent home by migrant workers surged to $2.16 billion in February, marking a significant 39 percent year-on-year increase. This figure represents the highest remittance inflow recorded in the past eight months, surpassing levels seen since July of the previous year.

The data also indicates that in June last year, the country experienced a peak in remittance inflows, totaling $2.19 billion.

The notable rise in remittance inflows can be attributed to several factors, including a record number of Bangladeshi migrants seeking employment opportunities abroad. In 2023, the number of migrants going overseas for jobs reached 13.05 lakh, compared to 11.35 lakh in the previous year.

Furthermore, the occurrence of a leap year, with February having 29 days, likely contributed to the increased remittance inflows.

This surge in remittances underscores the vital role of the Bangladeshi diaspora in bolstering the country's economy and demonstrates the resilience of remittance flows amidst global economic uncertainties.