Chittagong port Dhaka TribuneThe trade deficit narrowed due to the negative import growth, which indicates stagnated economic activities and weak domestic demandBangladesh’s trade deficit narrowed 30.77 per cent year-on-year to $4.7 billion in the first five months of the fiscal year, thanks to the falling trend of import due to the ongoing economic slowdown brought on by the coronavirus pandemic. The deficit fell by $2.09 billion to $4.7 billion during the July-November period, according to data from the Bangladesh Bank (BB). The trade deficit narrowed due to the negative import growth, which indicates stagnated economic activities and weak domestic demand. The country's current account balance posted a surplus of $4.10 billion in the first five months of the fiscal year owing to the sharp decline in the trade gap. The record foreign exchange reserve is also a reflection of the lower trade deficit and surplus in the current account.

Source: Dhaka Tribune December 29, 2020 18:33 UTC