In October, Bangladesh received $2.40 billion in wage earners' remittances.
This represented an upward trend that began in August, when $2.2 billion was received in remittances according to latest data released by Bangladesh Bank (BB) on Sunday.
The consistent increase in remittance inflows underscores the resilience of Bangladeshi expatriates despite ongoing global economic challenges.
According to the latest data of the Statistics Department of Bangladesh Bank, October's remittance inflow was slightly lower than September's but showed a robust performance.
The month saw varied contributions from different banking institutions, with Islami Bank Bangladesh PLC leading with $431.49 million, followed closely by Janata Bank PLC with $194.33 million and BRAC Bank PLC's $144.17 million.
The weekly breakdown of remittance inflows present a fluctuating but overall positive trend.
The highest remittance inflow was recorded during October 6-12, with $568.14 million, showing a potential response to festive spending and an increase in labour employment opportunities abroad.
This pattern suggests that expatriates are not only fulfilling their financial obligations but are also responding to seasonal demands, particularly during major celebrations that often prompt increased financial support for families.
Key bankers expressed optimism about this upward trend.
A senior official at Bangladesh Bank said "The increase in remittance reflects the hard work and commitment of our overseas workers.
Their contributions are crucial for stabilizing our economy, particularly in times of uncertainty."
He pointed out that remittances play a vital role in supporting both household consumption and national economic stability.
Mohammed Abdul Mannan a private banker highlighted the significance of remittances in the broader economic context.
"The support from expatriates during challenging times underscores their pivotal role in Bangladesh's economic landscape," he said.
"Their financial contributions not only uplift their families but also bolster local economies."
As Bangladesh continues to steer through global uncertainties, the sustained rise in remittances not only strengthens the national economy but also provides essential support for families relying on these funds.
This October data signals a positive outlook for future remittance trends, which are critical for maintaining economic stability and fostering growth in the country. The ongoing commitment of expatriate workers remains a cornerstone of Bangladesh's economic resilience.
In first four months of the current fiscal Bangladesh received $8.94 billion remittances.
