Bangladesh receives record-breaking remittance in Dec

Dhaka, 1 Jan - Bangladesh has witnessed a record-breaking remittance inflow in December 2024, with expatriates sending $2.63 billion, the highest ever in the country's history for a single month.

On average, $85.1 million was remitted daily throughout December, according the latest report from Bangladesh Bank, published on Wednesday.

The report revealed that remittances in December amounted to $2.63 billion, significantly surpassing the $1.99 billion received during the same period last year.

Previously, the highest remittance inflow was recorded in July 2020, with $2.59 billion. However, the December 2024 figures broke that record.

Contributions by Banking Channels

State-owned banks facilitated $720 million in remittances in December, while specialised banks processed $112.7 million. Private banks accounted for the largest share, handling $1.79 billion and foreign bank branches contributed $7.4 million.

Weekly Inflows in December

• 29–31 December: $218.2 million
• 22–28 December: $413.3 million
• 15–21 December: $625.9 million
• 8–14 December: $764.9 million
• 1–7 December: $616.5 million

Remittance Trends in 2024

The remittance flow showed significant variation throughout the year. June witnessed $2.54 billion in remittances, the highest monthly inflow before December. However, July, the first month of the fiscal year, saw a sharp drop to $1.91 billion, marking the lowest figure in ten months.

The situation began to improve after the interim government took office, with remittances reaching $2.22 billion in August, $2.40 billion in September, $2.39 billion in October, and $2.20 billion in November.

This robust inflow highlights the unwavering support of Bangladeshi expatriates in strengthening the nation’s economy, with December standing out as a historic month in remittance contributions.