Bangladesh’s trade deficit has decreased by 4.41% during the first eight months of the current fiscal year (July-February), reflecting a positive shift in the country’s foreign trade balance. 

The reduction is largely attributed to a rise in remittance flows and export earnings, according to recent data from Bangladesh Bank.

The central bank's figures reveal that during the period, Bangladesh exported goods worth $3.38 billion, while imports totaled $4.37 billion. 

This resulted in a trade deficit of $1.37 billion, down from $1.43 billion over the same period last year.

This improvement is seen as a boost to the nation's economy, contributing to efforts to control inflation.

The data further shows a significant reduction in the current account deficit, which stood at $1.27 billion in the current fiscal year, compared to $4.07 billion in the same period last year.

The overall balance deficit also showed signs of narrowing, with the figure dropping to $1.11 billion during July-February, compared to $1.17 billion in the preceding months. In February 2024, the deficit had been much higher at $4.44 billion.

In terms of remittance, expatriates sent $18.48 billion between July and February, marking a 22.6% increase compared to $15.07 billion during the same period in the previous year.

Experts suggest that the rise in remittances and export revenues, along with stable import costs for industrial raw materials and capital equipment, have played a significant role in reducing the trade deficit.

BDST: 1055 HRS, APR 03, 2025
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