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According to a World Bank report, Bangladesh will be the eighth largest country in the world in terms of remittance inflows by 2020. The report entitled ‘Covid-19 Crisis Through the Lens of Migration’ was released from Washington headquarters on Friday.
According to the report’s projection, remittances from two South Asian countries will also increase in Corona this year. Of which Bangladesh will increase by eight percent.
The report also said that Covid remittances will also increase as remittances from informal to institutional channels increase, mainly due to travel control.
According to the report, remittances to Bangladesh will reach £ 20 billion in 2020.
Bangladesh ranks 8th out of the top 10 countries in terms of quantity. The first is India (৭৬ 6 billion), the second is China (60 billion) and the third is Mexico (বিল 41 billion). There is another country in South Asia before Bangladesh in the top 10 of countries. That is Pakistan in sixth position. The country’s remittances could amount to £ 24 billion.
Although India is at the top in terms of volume, its remittances will fall by nine percent this year. Overall, remittances from South Asia will decline by four percent. However, another South Asian country, Pakistan, will grow by 9 percent.
The World Bank says that remittances will fall by seven percent globally in 2020.
However, in terms of gross domestic product (GDP), Bangladesh is the fourth largest country in South Asia in terms of remittances. Which is six point two percent of GDP. The first is Nepal (23 percent), the second is Pakistan (nine point one percent) and the third is Sri Lanka (eight point two percent).
