Bangladesh's trade deficit shrinks 48pc in FY23

Bangladesh's trade deficit in the fiscal 2022-23 (FY23) narrowed amid a raft of measures, including import controls.

The country's trade deficit has decreased to -$17,155 million ( around 48 percent) in FY23 - down from -$33,250 million in the previous fiscal year - due to the tightening of imports, according to data from the Bangladesh Bank (BB).

The country's imports went down by 15.76 percent to $69.49 billion in the year ending on 30 June, while exports rose by 6.28 percent to $52.34 billion, helping the country reduce its trade gap.