Business Report :
Bangladesh’s overall external deficit nearly halved in fiscal year (FY) 2023-24, hitting the lowest mark in three years, a positive development which is expected to ease the pressure on forex reserves and reduce exchange rate volatility.
At the end of FY24, the overall external deficit stood at $4.3 billion, down 48 percent year-on-year from $8.2 billion a year ago, according to Bangladesh Bank data on the Balance of Payments, which records a country’s transactions with the rest of the world.
The current account balance, which includes inflows and outflows to and from a country through exports, imports, interest payments and remittances, also improved in FY24, which ended on June 30.