Bangladesh receives 72pc of outward remittances of Maldives

Bangladeshi migrant workers sent home over $112 million from the Maldives in 2024, making up 72 per cent of the country’s total outward remittances.

According to the payments bulletin released by the country’s central bank, Maldives Monetary Authority (MMA), the migrant workers remitted $143.5 million in total last year, marking a 59 per cent increase from 2023.

The remittance transactions also surged, reaching $155.5 million, a year-on-year growth of 121 per cent, said the bulletin.

Among other countries, Nepal received 5.0 per cent of the total remittances, the Philippines and Egypt 4.0 per cent each, and India only 2.0 per cent.

Experts say the trend reflects the growing presence of Bangladeshi workers in the Maldives. Estimates suggest that over 80,000 Bangladeshis are employed across sectors, the highest share of foreign workers in the country.

Initially concentrated in construction, fisheries, and domestic work, Bangladeshi workers have now expanded into the hospitality and service industries, further boosting the remittance flows.