Dhaka: Due to the second wave of pandemics and various crises, the remittance income has come down to a record amount in the last year, despite the fact that the expatriate income has been low for six consecutive months. However, despite the increase in remittances in a single year, in the first six months of the current financial year (July-December) it has decreased by about 21 percent as compared to the same period of the previous financial year.
In 2021, the expatriates sent a record 2,207 crore US dollars to the country. Never before has there been so much remittance.
According to central bank sources, expatriates sent remittances worth 164.90 lakh dollars in December. As a result, remittances of 2,207 crore US dollars have come to the banking channels in the just-concluded 2021. In domestic currency the amount is more than Tk. one lakh 69 thousand 36 crore; (85 taka 80 paisa per dollar) which was the highest remittance in a single year in history. The previous highest remittance was 2,174 crore dollar in 2020 and 1,833 crore dollar in 2019.
However, despite the increase in remittances last year, the expatriate income is still in a negative position considering the financial year. In the first six months (July-December) of the current fiscal year 2021-22, remittances reached 1023 crore dollar. Which was one thousand 1294 crore dollars in the same period of last financial year. As such, remittances in the first six months of the current financial year decreased by 270 crore dollar or 20.91 percent.
Meanwhile, the government announced an incentive at the rate of 2 percent in the budget of 2019-20 fiscal year to increase the income of expatriates in a legal way. But at the end of last year, remittance inflows have been reduced for six consecutive months, which has further increased since the New Year.