DHAKA, Aug. 26 (Xinhua) -- Bangladesh registered a current account deficit of over 5 billion U.S. dollars in the 2018-19 fiscal, meaning the country absorbed more than what it produced in the last fiscal year, a central bank official said Monday.
The Bangladesh Bank (BB) official told Xinhua that the current account balance showed a deficit of 5,254 million U.S. dollars in the last fiscal year 2018-19 (July 2018-June 2019) against the deficit of 9,567 million U.S. dollars in the previous fiscal year (July 2017-June 2018).
The BB official said the current account deficit narrowed in the last fiscal year as both exports and remittances logged a big gain.
Bangladesh exports increase 10.55 percent to 40.54 billion U.S. dollars in the just concluded 2018-19 fiscal year, showed Export Promotion Bureau (EPB) datal.
On the other hand, the bank data showed, remittances from millions of Bangladeshis, living and working abroad, hit an all-time high of 16.40 billion U.S. dollars in the past 2018-2019 fiscal year. The flow of inward remittances in 2018-2019 fiscal surged 9.47 percent year on year.
