Bangladesh has recorded a significant rise in remittance inflows, with a 28.5 percent year-on-year growth during the first half of September, according to the latest figures released by Bangladesh Bank.

Data from the central bank shows that between September 1 and 16 this year, Bangladeshi expatriates sent home 1,673 million US dollars. This marks a sharp increase compared to 1,302 million dollars sent during the same period last year.

The robust inflow reflects continued resilience in remittance earnings, which play a vital role in supporting the country’s foreign exchange reserves and overall economic stability. Analysts note that remittances remain a key driver of Bangladesh’s balance of payments, providing crucial support at a time of global economic uncertainty.

From July to September 16 of the current fiscal year, Bangladesh received a total of 6,573 million dollars in remittances. This figure is substantially higher than the 5,440 million dollars received during the same period of the previous fiscal year, highlighting sustained growth in overseas workers’ contributions.

The increase comes amid the government’s continued efforts to encourage expatriates to send money through legal banking channels by offering incentives and simplifying transfer processes. Economists suggest that this growth may also be partly driven by seasonal demand, as families in Bangladesh prepare for expenses linked to social, cultural, and religious events during this period.

Despite global inflationary pressures and economic challenges in several migrant-hosting countries, Bangladeshi workers abroad have continued to remit funds at rising levels. The surge is seen as a positive sign for the economy, which has faced challenges in maintaining foreign currency reserves due to higher import costs and global market volatility.

Experts believe that maintaining this momentum will be crucial for ensuring economic stability in the coming months. They also stress the importance of expanding skill development programs for migrant workers, diversifying labor markets, and improving financial inclusion at home to maximize the benefits of remittance inflows.