Credit Card Consumption Contracts in July
All indicators of credit card usage—both at home and abroad—declined in July compared to June. This downward trend was observed in domestic transactions, spending abroad by Bangladeshis, and expenditures in Bangladesh by foreigners. Overall, credit card spending dropped by Tk 700 million within a single month.
According to the latest report of Bangladesh Bank, Bangladeshis spent Tk 54.9 billion abroad through credit cards in June of this year. In July, this figure fell to Tk 47.9 billion. Among international destinations, the United States recorded the highest expenditure of Tk 7.9 billion, followed by the United Kingdom (Tk 5.7 billion), Thailand (Tk 5.2 billion), Singapore (Tk 4.0 billion), Malaysia (Tk 3.8 billion), and India (Tk 2.8 billion).
Similarly, foreign visitors to Bangladesh also reduced their spending. Their expenditure stood at Tk 19.5 billion in June but declined to Tk 18.8 billion in July. Among them, U.S. citizens were the highest spenders, with Tk 4.4 billion in expenditures while visiting Bangladesh.
Domestic transactions also experienced a fall. Spending within the country amounted to Tk 311.4 billion in June, which slipped to Tk 308.3 billion in July, marking a contraction of Tk 3.1 billion in one month.
