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Remittances to Bangladesh on the decline
Publication Date : 23-09-2013
Remittances from top six countries on the declineRemittance inflow to Bangladesh from top six countries has been on a gradual decline, according to Bangladesh Bank statistics.
The six countries - Saudi Arabia, United Arab Emirates, Kuwait, the US, the UK and Malaysia - accounted for US$11.69 billion or 80.87 per cent of Bangladesh’s total remittance inflow of $14.46 billion in fiscal 2012-13.
Contribution of these countries was 82.63 per cent, 84.20 per cent and 83.76 per cent in fiscal 2011-12, 2010-11 and 2009-10 respectively.
The Bangladeshi diaspora in Saudi Arabia sent the highest amount of foreign currencies, worth nearly $3.83 billion, in 2012-13, followed by the UAE at $2.83 billion and the US at $1.86 billion, central bank data shows.
Remittance inflow from the UAE, Oman, Bahrain, Kuwait, Libya, the US, Malaysia, Singapore, Australia and South Korea increased in 2012-13 compared to that a year ago.
However, remittances from Qatar, the UK, Germany, Japan, Italy and Hong Kong witnessed a negative growth in 2012-13 compared to 2011-12.