DHAKA, Dec. 6 (Xinhua) -- Bangladesh's trade deficit in the first four months of the current 2022-23 fiscal year (July 2022-June 2023) soared by 4.69 percent to 9.59 billion U.S. dollars year on year, showed the latest central bank data.
The Bangladesh Bank (BB) data showed that the country's import payment was 25.51 billion dollars, up 6.72 percent in the July-October period of the current fiscal year, while earnings from exports stood at 15.92 billion dollars, up 8 percent during the same period.
The BB data showed that the gap between Bangladesh's export earnings and import payments in the July-October period of the previous 2021-22 fiscal year (July 2021-June 2022) was 9.16 billion dollars.
The growth in remittances as always helped Bangladesh cushion the impact of trade deficit, said a central bank official.
Bangladesh's overall remittance inflow rose by 2.03 percent year on year to 7.19 billion dollars in the first four months of the 2022-23 fiscal year.
Bangladesh's trade deficit ballooned to a record level of over 33 billion dollars in fiscal 2021-22 ending on Jun. 30, 2022 on the back of increased imports. ■
