Bangladesh receives record nearly $11 bln remittance in 2009-10 fiscal

08:14, July 07, 2010      

Email | Print | Subscribe | Comments | Forum 

Bangladesh received highest remittance in the 2009-10 fiscal year (from July 2009 to June 2010) from millions of migrating workers.

Remittance from more than 6 million expatriate Bangladeshis in 2009-10 fiscal year totaled 10.97 billion U.S. dollars, around 13. 20 percent higher than the same period a year ago, the central bank data showed on Tuesday.

According to provisional statistics of the Bangladesh Bank (BB), the amount of remittance, a key source of foreign exchange for the impoverished country after garments exports, in the last month stood at 877.95 million U.S. dollars, down 2.78 percent over that in May.

Bangladesh's inflow of remittance during the first 11 months of 2009-10 fiscal year surged 14.94 percent to 10.08 billion U.S. dollars, more than the total amount of 2008-09 fiscal year.

During 2008-2009 fiscal year (from July 2008 to June 2009), the expatriate incomes hit a record 9.69 billion U.S. dollars.

"The growth in inflow of remittance in the last fiscal year is the result of the BB's continuous efforts to encourage expatriate Bangladeshis to remit home money through formal channels," a senior central bank official, who preferred to be unnamed, said.

Despite the global economic downturn, he said, fresh overseas employment opportunities to hundreds of thousands of Bangladeshis so far this year and last year also contributed to the steady growth in inflow of remittance.

As the global economic downturn squeezed opportunities of fresh employment in developed countries, overseas jobs for Bangladeshis in the first half of this year were reduced by around 18.82 percent over that a year ago.

According to statistics of the Bangladesh Bureau of Manpower Employment and Training (BMET), some 203,684 Bangladeshis including 34,798 people in June found foreign jobs from January to June this year, compared with around 250,900 jobs in the same period a year ago.

In 2009, about 475,278 Bangladeshis found overseas jobs against a record of 875,000 in 2008.

Higher inflow of remittance has pushed Bangladesh's foreign exchange reserves to a record high level for the first time last month. According to BB, the forex reserve stood at 10.75 billion U. S. dollars at the end of June.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
  • Arash Kamalvand (L) of Iran spikes the ball during the semifinal against South Korea at the 16th Asian Men's Volleyball Championship in Tehran, Iran, Sept. 28, 2011. Iran won 3-1 to advance to the final. (Xinhua/Ahmad Halabisaz)
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
Hot Forum Discussion