FY23 merchandise trade deficit shrinks by 48% YoY in Bangladesh
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.
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.
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.
Fibre2Fashion News Desk (DS)