DHAKA, March 24 (Xinhua) -- Bangladesh's current account deficit had shrunk to 4.34 billion U.S. dollars in first seven months (July to January) of the current fiscal year, an official said on Sunday.
The Bangladesh Bank (BB) official told Xinhua that the current account balance showed a deficit of 4,337 million U.S. dollars in the first seven months of the current fiscal year 2018-19 (July 2018-June 2019) against the deficit of 5,402 million U.S. dollars in the same period of the previous fiscal year.
As both export earnings and workers' remittances increased, the BB official said the current account deficit narrowed in the first seven months of this fiscal year.
Bangladesh's total exports in the first seven months of the current 2018-19 fiscal year exceeded 24 billion U.S. dollars, up about 14 percent from the same period a year ago, the BB data data showed.
On the other hand, it showed Bangladesh's overall remittance inflow rose 9.31 percent year on year to 9.08 billion U.S. dollars in seven months of 2018-19 fiscal year.
At the end of the last 2017-18 fiscal year (July 2017-June 2018), the country's current account deficit amounted to nearly 10 billion U.S. dollars, meaning Bangladesh's economy absorbed more than what it produced in the months, the BB data showed.
