According to the latest Bangladesh Bank (BB) report, despite implementing measures to tighten imports, Bangladesh faced a net foreign exchange deficit of $8.22 billion in FY2022-23, compared to $6.65 billion in FY22. It was billion dollars. This information came out from the balance of payments of foreign exchange transactions released on Thursday.
The report revealed that in FY23 (July-June), Bangladesh imported goods worth $69.49 billion, while exported products worth $52.34 billion during the same period. As a result, Bangladesh faced a trade deficit of $17.15 billion. Imports decreased by 15.76 percent in FY23, while exports increased by 6.28 percent.
BB officials expressed concern that despite strictness on imports, prices of various products, including energy, have increased in the global market. In addition, remittances and exports have not lived up to expectations and foreign investment has declined. As a result, Bangladesh is facing a trade deficit in its foreign trade.