Dhaka Mar 02 (V7N) - Bangladesh experienced a significant surge in remittances during February 2025, with a total of $2.52 billion received, marking a 25% increase from February 2024's $2.02 billion. This growth contributed to a cumulative remittance inflow of $18.49 billion from July 2024 to February 2025, reflecting a 23.8% rise compared to the same period in the previous fiscal year.

The monthly breakdown for the fiscal year 2024-25 shows a steady flow of remittances, with notable figures including $1.91 billion in July, $2.22 billion in August, and $2.64 billion in December, which was the highest monthly inflow. The consistent increase in remittances is attributed to several factors, including expatriates' increased use of formal banking channels due to incentives such as instant cash bonuses and secure transactions.

Bangladesh Bank officials, like Arif Hossain Khan, highlight political stability following the transition on August 5, 2024, as another key factor contributing to the surge in remittances. This stability, combined with the benefits of using formal channels, has encouraged more expatriates to send money back home through official means.

The strong momentum in remittance inflows suggests that Bangladesh is poised to achieve new highs in remittance earnings in 2025. This trend is crucial for the country's economy, as remittances play a significant role in supporting household incomes and contributing to GDP growth. With remittances accounting for a substantial portion of foreign exchange earnings, their continued growth is expected to bolster Bangladesh's economic resilience.

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