Manpower Export Remittance and International

Abstract

The article "Manpower Export, Remittance, and International Depression" by M. Azizur Rahman analyzes Bangladesh's labor migration sector as a vital economic pillar during global downturns. The author highlights how remittances from overseas workers—reaching $5.65 billion in 2007, with Saudi Arabia contributing $1.64 billion—help buffer the economy against export declines. The study notes a record 832,609 workers were sent abroad that year. While acknowledging the vulnerabilities of semi-skilled and unskilled labor markets during the 2008 financial crisis, the article identifies emerging opportunities in post-conflict zones such as Iraq. It demonstrates the counter-cyclical resilience of remittance flows, which grew from $782 million to $857 million monthly during 2008–2009, despite skepticism from institutions like the IMF. The study advocates for diversification into skilled labor markets to meet a $10 billion annual remittance target and reduce dependence on imports.