In the first five months of fiscal year (FY) 2024-25, Bangladesh’s trade deficit decreased by 20 percent to $7.88 billion compared to $9.85 billion in the same period of FY24. This reduction is attributed to a 10.1 percent rise in export earnings, reaching $18.12 billion, and a 1.2 percent decline in import costs, which amounted to $26.01 billion. Additionally, an increase in remittance inflows has improved the country’s balance of payments (BoP), reducing the current account balance deficit to $226 million from $3.93 billion a year earlier. While the financial account deficit remains negative, it has narrowed to $581 million from $811 million. Industry experts highlight that the positive trends in remittances and export earnings are crucial for sustaining the BoP’s stability. Overall, the BoP deficit dropped to $2.47 billion from $4.89 billion in the previous fiscal year.
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