Remittance to hit $15.9b this year: WB

Staff Correspondent | Published: 00:00, Dec 09,2018

 
 

Remittance inflow to Bangladesh this year will hit $ 15.9 billion with 17.9 per cent year-on-year growth, according to a World Bank report released on Saturday.
The country will retain its position as 9th top remittance receivers this year, said the global lender in its report ‘Migration and Remittances: Recent Developments and Outlook’.
The 2018 remittance inflow will be 5.6 per cent of the country’s gross domestic product, it said.
India will retain its position as the highest remittance receiver with $ 79.5 billion followed by China with $ 67.4 billion and Mexico with $ 33.7 billion in the year.
Among the South Asian countries, Pakistan is set to remain at the seventh place with $ 20.9 billion remittance earnings in the year.
According to the report, employment opportunities in the GCC countries, especially in Saudi Arabia, shrank for South Asian countries, including Bangladesh, due to nationalisation policies of the countries.
The pace of migrant worker deployments from Bangladesh for the first three quarters of 2018 slowed by 25 per cent mainly due to slower demand in GCC countries, particularly in Saudi Arabia, said WB.
The number of manpower export from Bangladesh dropped to 5.5 lakh in the first three quarter of 2018 from that of 7.3 lakh in the same period of 2017.
The report said that among the global manpower export corridors, United Arab Emirates to Bangladesh was the fourth less costly corridor for remittance sending.
The report said that nearly 1 million Rohingya refugees had placed enormous pressures on Bangladesh.
Of the Roingya refugees, over 7.2 lakh have fled to Bangladesh from Myanmar Since August 2017.

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