DHAKA, July 29 (Xinhua) -- Bangladesh's current account deficit fell steeply to nearly half a billion U.S. dollars during the first 11 months of the 2024-25 fiscal year (July 2024-June 2025), meaning the South Asian economy absorbed less than what it produced in the last year.
According to the latest Bangladesh Bank (BB) data, the current account balance showed a deficit of 432 million dollars in the first 11 months of the last fiscal year against the deficit of 6.12 billion 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 as always offset the impact of the deficit.
Bangladesh has received 2.97 billion dollars in remittances in May, marking the second-highest monthly inflow in the country's history.
According to Bangladesh Bank data, in the 11 months of the last fiscal year, total remittance inflows reached 27.51 billion dollars, an increase of 28.7 percent compared to 21.37 billion dollars in the same period of the previous fiscal year.
Bangladesh registered a current account deficit of 6.60 billion dollars in the 2023-24 fiscal year. ■
