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The Financial Express

Remittance inflow witnesses 37pc growth in six months

| Updated: January 03, 2021 21:33:53


Remittance inflow witnesses 37pc growth in six months

Inward remittances witnessed a massive growth of 37.6 per cent in the first six months of the current fiscal 2020-21 compared to the corresponding period of the previous fiscal.

According to the finance ministry, Bangladesh received nearly $13 billion in remittances during the July to December period of the current fiscal, reports UNB.

In 2019-20, the remittance figure for July-December was under $9.5 billion. 

The figure for December in 2020 was around $2.05 billion, which was $1.7 billion in 2019.

The increase in remittances witnessed during the coronavirus pandemic has been attributed to the dramatic fall in opportunities for unofficial channels to transfer money due to lockdown measures imposed by governments worldwide, as well as a incentives provided by the government to encourage use of official channels.  

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