Bangladesh Posts Current Account Deficit at 3.3 bln USD in FY 2022-23: Official

Bangladesh registered a current account deficit of some 3.3 billion U.S. dollars in the last fiscal year running from July 2022 to June 2023, a Bangladesh Bank (BB) official said Sunday.

The central bank official told Xinhua that the current account balance showed a deficit of 3.334 billion dollars in fiscal year 2022-23, compared to the deficit of 4.575 billion dollars recorded a year earlier.

Remittances, however, helped Bangladesh by cushioning the impact of current account deficit with moderate export income growth, said the official.

According to the official, inflow of remittances from some 10 million Bangladeshis living and working in over 100 countries and regions in fiscal year 2022-23 amounted to 21.61 billion dollars.

The latest BB data showed the South Asian country's import payment was 69.50 billion dollars, down 15.76 percent, from July 2022 to June 2023, while earnings from exports stood at 52.34 billion dollars, up 6.28 percent, during the same period.

Source: Rastriya Samachar Samiti (RSS)