The United Arab Emirates has become the highest source of remittance for Bangladesh, surpassing traditional powerhouses like Saudi Arabia and the United States, during the financial year (FY24).
The second highest expatriate income in the recently passed fiscal year came from the US after the United Kingdom, according Bangladesh Bank data.
In FY24, Bangladeshi expatriates in the UAE remitted $4.64 billion, while the migrant workers from the United States remitted $2.96 billion, and from the United Kingdom, the remittance was $2.79 billion.
At the end of the recently concluded financial year, Saudi Arabia was the fourth destination in terms of remittances for Bangladesh. The expatriates in the country remitted about $2.74 billion in remittances.
In FY23, Saudi Arabia was the top recipient of expatriate income. But at the end of FY24, the country fell from the top position to fourth place.
Meanwhile, Bangladesh received $23.92 billion in inward remittances in FY24, saw a 10.70 per cent growth in remittance earnings compared with FY23 when the nation bagged $21.61 billion in remittance.
