March 2025 is set to become a historic month for Bangladesh as remittances are poised to break records, with an astounding influx of $2.7 billion received within the first 24 days alone.
This remarkable achievement not only signifies an unprecedented flow of funds but also highlights the nation's resilience and the vital contributions of its expatriates. With this momentum, total remittances for the month are projected to exceed $3 billion, establishing a new benchmark in the country's financial history.
Examining the month-wise data reveals a clear and positive trend in remittance inflows. In the fiscal year 2024-25, remittances have steadily increased month over month, with July reporting $1.91 billion, August rising to $2.22 billion, September at $2.40 billion, and October seeing a slight decline to $2.40 billion again.
November also reflected a decrease to $2.20 billion before the remarkable December surge that brought in $2.64 billion. January 2024 retained strong inflow at $2.19 billion, while February continued this upward trend with $2.53 billion.
This consistent increase demonstrates a robust recovery, particularly when compared to earlier fiscal years. For instance, the previous year (2023-24) began with $1.97 billion in July, which saw fluctuations that often dipped below the $2 billion mark until rising again in December 2023.
Notably, the month of March, which shows efforts from expatriates during special occasions like Eid, has already been validated as another significant contributor, suggesting sustained interest and loyalty among Bangladeshis abroad to support their families back home.
The surge in remittance inflow coincides with the upcoming Eid-ul-Fitr, compelling expatriates to send larger amounts as they seek to support their families during this festive period.
