Trade deficit projected at $33bn by end of FY22

The new projection is higher than the central bank's initial projection in the MPS for FY22

Bangladesh's trade deficit is projected to be $33 billion in the just-concluded fiscal year as export earnings and remittances continue to fall below the overall import cost.

The trade deficit is expected to increase further to $36.70 billion in the next fiscal year of FY23, said Bangladesh Bank in its monetary policy.

The new projection is higher than the central bank's initial projection in the MPS for FY22.

The central bank had projected the trade deficit to be at $26.60 billion in FY22.

But the deficit widened to $27.56 billion in the first 10 months of FY22.

The BB also projected an increase in the current account deficit to $17.73 billion from $4.5 billion a year ago.

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