Bhutanese living abroad collectively remitted more than USD 210 M between August last year and October this year, according to the Central Bank’s monthly statistical bulletin. December last year saw the highest monthly remittance, nearly USD 29 M.
Australia emerged as the top source of remittances, with contributions rising from USD 1.87 M in August 2023 to a peak of USD 19.77 M in December of the same year.
Although remittances from Australia slightly declined after December, the country maintained its dominance. Overall, Bhutanese in Australia remitted over USD 132 M during the 15-month period.
Meanwhile, the United States and Kuwait were consistently among the top three contributors. Bhutanese in the US sent over USD 25 M, with remittances peaking at USD 3.16 M in December 2023. Kuwait contributed almost USD 19 M during the same period, maintaining steady monthly remittances of over USD 1 M.
Other significant contributors included Canada, the United Kingdom, Qatar, the United Arab Emirates, Singapore, Italy, and Bahrain.
Samten Dolkar
Edited by Phub Gyem
