Remittances from S Arabia hits $ 1371.34m in July-Nov

http://www.newstoday.com.bd/index.php?option=details&news_id=47390&date=2011-12-19

Remittances from S Arabia hits $ 1371.34m in July-Nov

Bangladesh fetched its highest remittance of US$ 1371.34 million from Saudi Arabia during July-November period of the current fiscal (2011-12), reports UNB.

The statistics available from Bangladesh Bank showed that remittance from Bangladeshi wage earners abroad totaled $ 4927.74 million during the July-November period, a growth of 7.56 per cent over the $4581.43 million of the corresponding period in the last fiscal (2010-11).

Overseas remittance from the wage earners showed a positive trend in November this fiscal with $ 1591.24 million, registering 2.40 per cent growth over $ 1553.88 million during the same month of last fiscal.

The central bank data showed the second highest remittance for the July-November period as $ 897.01 million from the United Arab Emirates (UAE), followed by $ 604.51 million from USA, $ 497.62 million from Kuwait and $391.23 million from the UK.

Besides, remittance earnings for the five-month period totaled $314.15 million from Malaysia, $125.30 million from Italy, $ 146.00 million from Oman, $ 131.26 million from Qatar, $92.01 million from Singapore and $97.09 million from Bahrain.

After maintaining a steady growth over the years, Bangladesh’s remittance earnings from the Middle-East (M-E) countries dropped during the last fiscal, amid political unrest there and a freeze on manpower import.

A total of $7215.53 million in remittances was sent home by Bangladeshi workers from the eight M-E countries in the last fiscal (2010-11), recording slight fall of $ 7.09 million over $7222.62 million during the corresponding period in the previous fiscal (2009-10).

Bangladesh received $ 11650.32 million from the wage earners’ remittance in the last fiscal, registering a growth of 6.3 per cent. It received $ 10987.4 million in remittance in the previous fiscal (2009-10).

The central bank figures showed that during the last fiscal (2010-11), Bangladesh received the highest remittance of $ 3290.03 million from Saudi Arabia, followed by $ 2002.63 million from UAE, $ 1075.75 million from Kuwait, $ 334.31 million from Oman, $ 319.36 million from Qatar, $ 185.93 million from Bahrain, and $ 5.20 million from Libya.

Presently, about 70 lakh Bangladeshis are working in different countries of the world – most them employed in Saudi Arabia, UAE, Kuwait, Oman, Qatar, Bahrain, Libya, Malaysia, Singapore, UK and USA.

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