Bangladesh – The 3rd highest remittance receiving country in South Asia

Bangladesh becomes the 3rd highest remittance receiving country in South Asia, 9th in the world. It has seen a 17.9% growth in remittance earning in 2018 where the rate saw declination of 11.5% in 2016.

The leader in remittance earning is India ($79.5 million), followed by China ($67 million) and Mexico & Philippines ($34 million). World Bank reports that the developing countries will display a growth of 10.8% to around $528 billion and global remittance will project a growth of 10.3% to $689 billion this year. South Asia will display a growth of 13.5% this year where it was only 5.7% last year.

The pace of migrant worker deployments from Bangladesh for the first three quarters of 2018 slowed by 25 per cent (0.55 million, compared with 0.73 million in the same period in the previous year).

Elvis Gomes

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