DHAKA, July 4: Bangladeshi migrant workers sent home a record $12.85 billion in the fiscal year ended in June as overseas jobs soared on the back of new opportunities in the Middle East, officials said on Wednesday.

The figure was a 10.26 per cent rise from the amount remitted by Bangladesh’s eight million-plus migrants in the previous fiscal year, central bank executive director, M. Ahsanullah told AFP.

Ahsanullah said the much-needed foreign exchange, which accounts for more than 10 per cent of Gross Domestic Product (GDP), eased pressure on the nation’s balance of payments and bolstered the local taka against the US dollar.

The taka lost around 15 per cent against the dollar since December last year after a balance of payments crisis that prompted the government to seek a $1 billion bailout from the International Monetary Fund in April.

Officials said a sharp rise in overseas jobs, mostly in the oil-rich Middle East, helped raise remittances to a record figure. Some 374,837 Bangladeshis flew abroad to work mostly in the manufacturing, construction, farm and service sectors in the six months to June this year, said the Bureau of Manpower and Employment Training.

Migration from Bangladesh fell sharply during the 2008-09 global economic downturns as jobs dried up in the Gulf and Southeast Asia.

According to government figures, eight million Bangladeshis now work overseas, although unofficial estimates put the figure at more than 10 million.—AFP

DHAKA, July 4: Bangladeshi migrant workers sent home a record $12.85 billion in the fiscal year ended in June as overseas jobs soared on the back of new opportunities in the Middle East, officials said on Wednesday. The figure was a 10.26 per cent rise from the amount remitted by Bangladesh’s eight million-plus migrants in the previous fiscal year, central bank executive director, M. Ahsanullah told AFP. Ahsanullah said the much-needed foreign exchange, which accounts for more than 10 per cent of Gross Domestic Product (GDP), eased pressure on the nation’s balance of payments and bolstered the local taka against the US dollar. The taka lost around 15 per cent against the dollar since December last year after a balance of payments crisis that prompted the government to seek a $1 billion bailout from the International Monetary Fund in April. Officials said a sharp rise in overseas jobs, mostly in the oil-rich Middle East, helped raise remittances to a record figure. Some 374,837 Bangladeshis flew abroad to work mostly in the manufacturing, construction, farm and service sectors in the six months to June this year, said the Bureau of Manpower and Employment Training. Migration from Bangladesh fell sharply during the 2008-09 global economic downturns as jobs dried up in the Gulf and Southeast Asia. According to government figures, eight million Bangladeshis now work overseas, although unofficial estimates put the figure at more than 10 million.—AFP


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