Expatriate income has decreased in the month of Eid

Economy Desk: On Eid, expatriates send extra money for the expenses of their families in the country. As a result expatriate income increases. But in this month of Eid, the expatriate income has decreased compared to the previous month. Such information can be seen in the latest report of Bangladesh Bank.  

Bangladesh Bank released the information on Sunday (April 28).

According to the data, on April 26, the expatriate income reached 168 million 970 thousand US dollars, which is 18 thousand 406 million 62 million taka in Bangladeshi currency. 109 taka 50 paise per dollar.

On April 26, 6 crore 46 lakh 52 thousand 692 US dollars came to the country every day. In the previous month of March, the daily average income of expatriates came to 6 crore 65 lakh 61 thousand 666 dollars. Again, at the same time in April last year, 5 crore 61 lakh 63 thousand 666 US dollars came every day. There was no Eid in April last year.

Meanwhile, according to the latest data of BMET, two lakh 36 thousand 837 people went abroad for work in the three months of January to March 2024. In other words, 78 thousand 945 people went out of the country on an average of three months. Last year in 2023, 13 lakh five thousand 453 people went abroad for work legally. One lakh eight thousand 787 people went out of the country every month this year. The previous year in 2022, 94 thousand 656 people went abroad every month.

This manpower export trend is higher than any other period except the previous year 2023.

The positive trend of manpower export continues in the first three months of this year. The highest number of manpower was exported in the previous year. However, the tendency to remit expatriate income legitimately through banking channels has declined. As a result, the dominance of hundi has increased and expatriate income has decreased, economists and many officials of commercial banks are concerned with collecting expatriate income.

Analyzing the data of Bangladesh Bank, it can be seen that on April 26, the expatriate income received through the state-owned commercial banks was 16 million 180 thousand US dollars. 8 crore 98 million dollars came through the specialized agricultural bank.

142 crore 56 lakh 30 thousand US dollars came through private banks. Besides, 53 lakh 60 thousand US dollars came through foreign banks.

 

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