In South Asia, Bangladesh is third, world's ninth * First place India (69 billion dollars) * second China (64 billion) * eighth Vietnam (14 billion dollars) * Ninth Bangladesh ($ 13 billion)
Increasing flow of money sent to expatriates remittance expatriates in Bangladesh's economy Likewise, the dependence on remittance in the economically poor economies is also increasing. As one of the World Bank's foundations, the worldwide flow of remittance has increased. The last year was the bright year for remittance flow in the last 2017. In 2011, the expatriate income has increased by 8 percent in the year 2017 and the growth rate will continue in this year 2018.
The World Bank report released on Monday said that the cost of sending remittance increased. By reducing this, it is possible to get more remittance by reducing the cost of fund transfer at the institutional or individual level. Bangladesh's position on the country's remittance list is 9th in the world and the third in South Asia. First India and second Pakistan in remittance earnings in South Asia. Bangladesh's achievement would have been more without the complexity of Malaysia and UAE labor market.
In fact, remittances from many advanced countries like America, Russia and Europe play an important role in the economic development of the poor and the underdeveloped countries. The poor countries earn money by exporting skilled, semi-skilled workers.
According to the World Bank, in the year 2017, the remittance sent to the small and medium-income countries amounted to 466 billion dollars. In 2016, the amount was $ 429 billion. Expatriate income increased by 8 percent in one year. The World Bank said this year the amount of remittance will increase by four percent.
According to the data, remittance flow has increased in all regions of the world in the corresponding year. India has topped the list of remittance flows The country's income is 69 billion dollars After China, the amount of Chinese $ 64 billion Filipinos are 33 billion dollars, and Mexico is third and fourth in the list of 31 billion dollars. Nigeria's earnings in the fifth place, earning $ 22 billion and 6th place earns $ 20 billion dollars. Pakistan's earnings are $ 20 billion and Vietnam's income is 14 billion dollars, according to the list of two countries ranked 7th and 8th respectively. Bangladesh is ranked at 9th position with a revenue of 13 billion dollars. 9th place in the 10th place earning Indonesia
It is said in the report that for the first three months of the year, sending remittance money to the expense of $ 0.01 million is 7.1 percent. The expenditure is highest in Africa, which is 9.4 percent. Recommending to reduce the cost of sending remittance, the report said, if the reduction in the cost, remittance customers will get a higher amount of money. The World Bank has suggested to introduce more efficient technologies to make all the countries more flexible and more efficient as well as other measures.