Bangladesh to secure 8th position in remittance receiving

Staff Correspondent, Barta
Photo: Collected

Photo: Collected

  • Font increase
  • Font Decrease

According to the World Bank, Bangladesh will be ranked eighth in the world in terms of remittance inflows by expatriates in 2020.

This information has been given in a report of the World Bank and Nomad titled 'Cowid-19 Crisis Subject to Immigration'.

According to the report, remittances from the two South Asian countries will also increase this year in Corona. Of which Bangladesh will increase by 8 percent. And Pakistan will increase by 9 percent.

It is mentioned that remittances will increase in Bangladesh even in the midst of the ongoing pandemic due to the increase in remittances from informal to institutional channels mainly due to travel control.

The World Bank said remittances to Bangladesh will reach 20 billion by 2020. As a result, Bangladesh is in the eighth place among the top 10 countries receiving the highest remittances.

According to the World Bank report, Bangladesh ranks fourth among South Asian countries in terms of gross domestic product (GDP) which is 6.2 percent of GDP.

According to the latest data from Bangladesh Bank, the reserve stands at 41.3 billion or four thousand 103 million dollars. In Bangladeshi currency, the amount has spread to 3 lakh 44 thousand crore taka (64 rupees per dollar). Earlier, on October 8, the reserves had crossed Tk. 40 billion.