Dhaka, Bangladesh (BBN) – The inward flow remittance fell by more than 2.0 per cent in the just-concluded calendar year 2013 due mainly to the lower export of manpower coupled with the ongoing political uncertainty.
The inflow of remittance came down to $13.84 billion in 2013 from $14.18 billion a year ago, according to the central bank statistics, released on Wednesday.
More than 371,000 people went abroad with jobs until November 2013 against more than 0.60 million in the whole year of 2012, officials said.
“Return of migrants from different countries coupled with the domestic restive political situation is the key reason for the drop in remittance earnings,” an expert said.
Meanwhile, the remittances from Bangladeshi nationals working abroad were estimated at $1.22 billion in December 2013, up by $155.04 million from the level of the previous month. In November last the remittances stood at $1.06 billion.
The central bank has already taken a series of measures including creation of mass awareness so the expatriate Bangladeshis send their hard-earned money home through the banking channel instead of the illegal “hundi” system and thus help boost the country’s foreign exchange reserve.
Four state-run commercial banks and dozens of private commercial banks have stepped up efforts to increase remittance flow from the Middle East, the United Kingdom, Malaysia, Singapore,Italy and the United States.
BBN/SSR/AD-01Jan14-10:27 pm (BST)