Remittance makes 7pc growth in September

Remittance makes 7pc growth in September
Anayetur Rahaman

Inflow of remittance made a seven per cent growth in September this year compared to the same month a year ago, according to Bangladesh Bank statistics.

The country received US$ 855.44 million in September 2011 from the wage earners living abroad.

Remittance inflow, however, decreased by 22 per cent in the month compared to that of the previous month August of the year. Experts said remittance earning decreased in the month due to a post-Eid slowdown.

Bangladesh received $ 1.1 billion as remittance in August while the earning in July was $ 1.01 billion.

Remittance receipts from almost all major foreign labour markets except for Germany decreased in September compared to August of the same year, according to statistics.

Remittance inflow in the first quarter of the current fiscal year stood at $ 2.97 billion, which is 11.80 per cent higher than that of the same period last year. The country received a total of $ 2.66 billion in the corresponding quarter of the last fiscal year.

Remittance also witnessed a fall in September last year in comparison to August of the same year, but this time the gap is wider. The fall in September last year was 13 per cent compared to preceding August.


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