Bangladesh's trade deficit narrows by 7.58pc in first quarter

Bangladesh's trade deficit narrowed by 7.58 per cent to 4.63 billion US dollars in the first quarter of the current 2024-25 fiscal year starting from July 2024 and ending in June 2025, according to Bangladesh Bank (BB) data.

The latest BB data shows that Bangladesh import payment was 10,560 million dollars, up 5.1 per cent, in the July-September period of the current fiscal year while earnings from exports stood at 15,190 million dollars, 0.9 per cent higher, during the same period.

The country's gap between export earnings and import payments during the July-September period of 2023-2024 fiscal year (July 2023-June 2024) was estimated at 5,010 million dollars, reports Xinhua.

BB officials said strong remittances from nearly 10 million Bangladeshis living and working abroad helped offset the impact of the trade shortfall and kept the overall balance of payments in surplus.

Bangladesh's remittances totaled nearly 9 billion dollars in the July-October period, central bank data showed on Sunday.