Current account logs surplus after a year

Bangladesh's current account balance recorded a surplus after nearly a year as per the latest data released by the Central Bank of Bangladesh.

According to the Bangladesh Bank (BB), the current account balance showed a surplus of 33 million US dollars during the first half of the 2024–25 fiscal year against a deficit of $3.47 billion during the corresponding period of the previous fiscal year (July 2023–June 2024).

A BB official who preferred to be unnamed said the central bank's current account balance and overall balance of payments have moved to a positive trend as export earnings and inflow of remittances have improved, reports Xinhua.

Bangladeshis living and working abroad remitted home $13.78 billion during the first half of the current fiscal year, the bank data showed.

On the other hand, it showed that the country exported $24.53 billion worth of goods in the July-December period in the current fiscal.

The last time the Bangladesh current account balance had shown a surplus of $5.80 billion was in the July-March period of the 2023-24 fiscal year against a deficit of $3.30 billion during the July-March period of the 2022-23 fiscal year.

Bangladesh registered a current account deficit of $6.60 billion in the 2023-24 fiscal year, meaning Bangladesh's economy absorbed more than what it produced in the last year.