Friday, 3 April 2009

BANGLADESH: Do we really have a crisis on the remittance front?

Source: Bureau of Manpower, Employment and Training

WORKERS' remittance is the most important source of foreign exchange earning in Bangladesh. Although remittances account for about 60% of gross export receipts, in terms of net value addition and contribution to domestic demand it probably has more impact on the overall economy. It is also the fastest growing component, recording an average growth rate of 21.5% since 2000 and accounting for about 12% of GDP in 2008/09. Thus, the potential adverse impact of the global economic crisis on Bangladesh's remittance inflows is a legitimate concern.

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