The United States has surpassed the United Arab Emirates (UAE) in sending the most expatriate income, maintaining the top spot for three consecutive months. This marks a significant shift in global remittance trends, driven by a steady increase in U.S. expatriate remittances since political changes in August 2024.
According to a recent report by Bangladesh Bank, the U.S. sent approximately $1.4 billion in remittances between September and November 2024, while the UAE ranked second with $990 million. Other major remittance-sending countries include Saudi Arabia, Malaysia, the UK, Kuwait, Italy, Oman, Qatar, and Singapore.
U.S. remittances saw a notable increase during this period. In August, expatriate income from the U.S. was $293.4 million, which grew to $339 million in September—an increase of over 34%. By October, U.S. remittances reached $500 million, up 28% from September, and further rose to $519 million in November.
In contrast, expatriate income from the UAE, which had been the leader in August, showed a decline. From $340 million in August, remittances from the UAE decreased to $360 million in September, $333 million in October, and $290 million in November.
Banking executives and officials linked this surge in U.S. remittances to a significant global change in how expatriate income is processed. Major remittance companies, including Western Union and MoneyGram, have begun aggregating remittances from smaller firms worldwide, funneling them through specific countries. As a result, the U.S. has become the main source country for expatriate income, leading to a marked increase in remittance flows from the U.S. to various destinations.
Bd-pratidin English/ Jisan
