DHAKA, Jan. 21 (Xinhua) -- Bangladesh registered a current account deficit of over 200 million U.S. dollars during the first five months of current 2024-25 fiscal year (July 2024-June 2025), the latest Bangladesh Bank (BB) data showed.
According to the BB data, the current account balance showed a deficit of 226 million U.S. dollars in the first five months of the current fiscal year against the deficit of 3.93 billion U.S. dollars in the same period of previous fiscal year (July 2023 - June 2024).
Officials from the Bangladesh Bank said strong remittances from millions of Bangladeshis living and working abroad helped offset the impact of the deficit.
In the July-November period of this fiscal year, remittance earning stood at 11.13 billion dollars, up from 8.80 billion dollars at the same period of last fiscal year, the BB data showed.
The central bank of Bangladesh experienced a see-saw ride of ups and downs in the current account balance and overall balance of payments also in the last fiscal year due to inconsistency in export and import.
Bangladesh registered a current account deficit of 6.60 billion dollars in the last 2023-24 fiscal year, meaning Bangladesh's economy absorbed more than what it produced in the last year.
However, the recent central bank's data revealed that the country's import payment was 26.01 billion dollars, down 1.2 percent in the July-November period, while earnings from exports stood at 18.13 billion dollars, up 10.1 percent during the same period. ■
