Bangladesh Receives US$8.02 Billion In Remittances Through Sept 23: 13.6% YoY Growth

Dhaka, September 24, 2026 — Bangladesh received US$8.022 billion in workers' remittances during the July 1 - September 23 period of fiscal year 2026-27, registering a 13.6 per cent year-on-year growth compared to US$7.064 billion in the corresponding period of FY2025-26, according to the latest Bangladesh Bank data.

💰 The remittance inflow also showed a positive trend in September. Expatriate Bangladeshis sent US$2.196 billion during September 1-23, compared to US$2.164 billion during the same period last year, marking a 1.5 per cent increase. On September 23 alone, the country received US$62 million in workers' remittances.

📊 Key Figures

• 💵 July 1 – September 23, 2026 (FY27): US$8.022 billion
• 💵 July 1 – September 23, 2025 (FY26): US$7.064 billion
• 💵 Year-on-year growth (84-day cumulative): +13.6 per cent
• 💵 Absolute increase: US$958 million
• 💵 September 1-23, 2026: US$2.196 billion
• 💵 September 1-23, 2025: US$2.164 billion
• 💵 September YoY growth: +1.5 per cent
• 💵 Single-day (Sept 23): US$62 million

The sustained growth in remittance inflows is contributing to strengthening the country's foreign exchange inflow and supporting overall external-sector stability, BSS reported.

💼 Why This Update Matters

The September 24 update from Bangladesh Bank provides an extension of the remittance data published on September 22, which had reported US$7.888 billion for the first 83 days of FY27 (up to September 21) with 13.8 per cent YoY growth. The new data adds two more days (September 22-23) to the cumulative picture, with an additional US$134 million in inflows.

The slight moderation in growth rate — from 13.8 per cent through September 21 to 13.6 per cent through September 23 — and the modest 1.5 per cent YoY growth in the September 1-23 window suggest that the growth rate is normalising after the strong Eid-driven July-August surge. This pattern is consistent with seasonal remittance trends in Bangladesh, where Eid periods typically see elevated inflows.

🌏 The Expatriate Workforce Behind The Numbers

Bangladesh has approximately 13-15 million expatriate workers spread across the Middle East, South-East Asia, Europe and North America. The major source countries for remittances historically include:

• 🇸🇦 Saudi Arabia — hosting over 2.7 million Bangladeshi workers.
• 🇦🇪 United Arab Emirates — another major Gulf hub.
• 🇰🇾 Kuwait, 🇶🇦 Qatar, 🇧🇭 Bahrain, 🇴🇲 Oman — collectively employing several million Bangladeshi workers.
• 🇲🇾 Malaysia — a major destination for Bangladeshi plantation and construction workers.
• 🇺🇸 United States, 🇬🇧 United Kingdom, 🇦🇺 Australia — where Bangladeshi diaspora communities are concentrated in professional services and tech.

💡 Drivers Behind The FY27 Surge

Several factors are driving the 13.6 per cent remittance growth in the first 84 days of FY27:

• 💶 Taka depreciation — the Bangladeshi taka has weakened against the US dollar, making remittances more attractive.
• 💶 Higher Gulf wages — Saudi Arabia, UAE and Qatar have all raised minimum wages in 2026 amid regional infrastructure booms.
• 💶 Formal channel shift — Bangladesh Bank's continued push against hundi (informal money transfer) networks.
• 💶 Eid-ul-Adha effect — part of the July-August inflow reflects Eid-season family remittances.
• 💶 Higher inflows from US, UK, Australia — professional diaspora incomes recovering post-COVID.

💰 External Sector Implications

For Bangladesh's external sector, the US$8.022 billion remittance inflow provides a critical buffer against:

• ⚠ Sluggish RMG export growth — below the US$48 billion FY27 target.
• ⚠ Elevated energy import bill — due to the West Asia conflict and September 20 fuel price hike.
• ⚠ Higher debt servicing costs — as the IMF programme progresses and the new $4.0-4.5 billion programme is negotiated.
• ⚠ Outward repatriation of profits — by multinational companies operating in Bangladesh.

The strong remittance inflow is also helping Bangladesh Bank:

• 🏦 Defend the taka against the US dollar without sharp devaluation.
• 🏦 Service external debt obligations — including IMF programme repayments.
• 🏦 Pay for elevated energy imports — particularly LNG, coal, and refined petroleum products.
• 🏦 Maintain letters of credit (LCs) for industrial inputs — including the cotton, dyes, and chemicals that the RMG sector depends on.

📈 Comparison With ADB Forecast

The remittance growth trajectory is broadly consistent with the Asian Development Bank's (ADB) Asian Development Outlook September 2026 report, which projected that remittance inflows are expected to remain resilient despite ongoing tensions in the Middle East. The ADB had noted that:

• 📊 Strong remittances and higher foreign exchange reserves will help support external stability.
• 📊 The current account deficit is projected to widen to 0.6 per cent of GDP in FY27 from 0.3 per cent in FY26, as import growth outpaces exports.
• 📊 Maintaining stability will depend on adequate financial inflows, exchange rate flexibility, and prudent macroeconomic management.

🏛 Bangladesh Bank's Monetary Policy Implications

The strong remittance data is one of the factors that informed Bangladesh Bank's Monetary Policy Committee (MPC) decision on September 23 to keep the policy rate unchanged at 9.5 per cent. The MPC's cautious hold reflected:

• 📋 The need to monitor the inflation impact of the September 20 fuel price hike.
• 📋 The need to monitor the impact of the new pay scale implementation.
• 📋 The willingness to wait for more data on external sector trajectory.

The remittance data suggests that the external sector is in better shape than feared — which gives the MPC more flexibility to consider rate cuts in early 2027 if inflation shows signs of moderating after the fuel price shock passes through.

💼 Comparison With FY26 Full-Year Performance

For context, Bangladesh received approximately US$26.9 billion in remittances in FY26. If the current 13.6 per cent growth rate holds for the full FY27, the country is on track to receive approximately:

• 💵 FY27 full-year projection: approximately US$30.5-31 billion in remittances.
• 💵 Year-on-year increase: approximately US$3.6-4.1 billion.

This would mark a record year for Bangladesh's remittance sector and would significantly strengthen the country's external position — helping offset some of the pressure from the fuel price hike, energy import bill, and the broader economic challenges of 2026.

💼 Outlook And Risks

However, several risks could affect the remittance trajectory in the coming months:

• ⚠ West Asia conflict — prolonged conflict could disrupt Gulf labour markets and reduce Bangladeshi worker deployments.
• ⚠ Gulf economic diversification — as Saudi Arabia and UAE diversify away from oil, demand for low-skilled foreign labour may decline.
• ⚠ Advanced-economy recessions — if the US, UK or Australia enter recession, diaspora incomes could be affected.
• ⚠ Malaysia labour market concerns — recent misinformation and policy concerns have clouded the bilateral labour pipeline with Malaysia.
• ⚠ Currency volatility — if the taka stabilises or appreciates, the incentive for expatriates to send money home could weaken.

For now, the US$8.022 billion figure through September 23 is a positive signal for Bangladesh's economy — providing a measure of stability in an otherwise challenging external environment. Whether the momentum can be sustained through the rest of FY27 will depend on developments in the West Asia conflict, the trajectory of the global economy, and the success of Bangladesh's own economic reform agenda.