Staff Correspondent

Nearly 62 percent of Bangladesh's total remittance inflows during the first 11 months (July–May) of the 2025–26 fiscal year came from just five countries—Saudi Arabia, the United Kingdom, the United Arab Emirates (UAE), Malaysia, and the United States.

According to the latest data from Bangladesh Bank, expatriate Bangladeshis remitted a total of US$32.77 billion during the period, of which approximately US$20.25 billion originated from these five countries.

Saudi Arabia remained the largest source of remittances, contributing US$5.28 billion, accounting for nearly 16 percent of the total inflow. The United Kingdom ranked second with US$4.69 billion, followed by the United Arab Emirates with US$4.28 billion, Malaysia with US$3.22 billion, and the United States with US$2.79 billion.

Significant remittance inflows also came from Oman, Kuwait, Qatar, Bahrain, Singapore, and Italy. Together, these six countries contributed around US$8.89 billion, representing approximately 27 percent of total remittances. As a result, nearly 90 percent of Bangladesh's remittance earnings came from just 11 countries.

In May alone, Bangladesh received US$3.44 billion in remittances. For the first time, the United Kingdom emerged as the largest monthly source, sending US$650.9 million, ahead of Saudi Arabia with US$546.5 million and the United Arab Emirates with US$468.1 million.

Bangladesh Bank data show that Saudi Arabia was the top source of remittances in 10 of the first 11 months of the fiscal year. However, the UK overtook Saudi Arabia in May. Remittances from the UK rose from US$282.5 million in July to US$650 million in May, marking an increase of around 130 percent over the period.

The government has been encouraging expatriates to send money through formal banking channels by offering cash incentives and simplifying remittance procedures. These measures have increased the use of legal channels while reducing reliance on the informal hundi system.

Economists, however, caution that relying on just five countries for nearly three-fifths of total remittance inflows poses an economic risk. They warn that any changes in Middle Eastern labor markets or geopolitical instability could significantly affect Bangladesh's remittance earnings and foreign exchange reserves. They recommend diversifying remittance sources by expanding skilled workforce exports to Europe, East Asia, and other emerging labor markets.