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Bangladeshi migrant workers accounted for the bulk of remittances sent from the Maldives in 2024, channeling over $112 million, or 72 per cent of the country’s total outward flows, according to the Maldives Monetary Authority (MMA).

The MMA’s latest payments bulletin shows that overall remittances from the Maldives reached $143.5 million last year, up 59 per cent from 2023. Transaction volumes also surged, totaling $155.5 million, a 121 per cent year-on-year rise.

After Bangladesh, Nepal received 5.0 per cent of the outflow, followed by the Philippines and Egypt at 4.0 per cent each, while India accounted for just 2.0 per cent.

Analysts say the trend highlights the Maldives’ heavy reliance on Bangladeshi workers. An estimated 80,000 Bangladeshis, the largest foreign community in the island nation, are employed across construction, fisheries, domestic work, hospitality, and services — driving a steady rise in remittance inflows to Bangladesh.