FY23 merchandise trade deficit shrinks by 48% YoY in Bangladesh

04 Aug '23

1 min read

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Bangladesh's merchandise trade deficit declined by 48.40 per cent in FY23 to $17.15 billion from $33.25 billion in FY22, the central bank said recently.
The gap in trade in services stood at $4.25 billion in the last fiscal—a 6.50 per cent rise from $3.99 billion in FY22.
The FY23 current account deficit fell to $3.33 billion from $18.64 billion in FY22.

Bangladesh’s merchandise trade deficit with the rest of the world declined by a significant 48.40 per cent in the last fiscal (FY23) to $17.15 billion from $33.25 billion in FY22, according to the central bank.

Imports fell in a big way, while exports registered modest growth in the last fiscal.

The gap in trade in services stood at $4.25 billion in the last fiscal—a 6.50 per cent rise from $3.99 billion in FY22, according to Bangladesh media reports.

The big decline in the trade deficit led to the current account deficit in that fiscal declining to $3.33 billion from $18.64 billion in FY22.

ALCHEMPro News Desk (DS)

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