Bangladesh's trade deficit surged to $1.1 billion month-on-month in April despite import restrictions amid the ongoing dollar crisis.
The deficit amounted to $15.73 billion in the first 10 months (July-April) of FY23, $11.96 billion lower than that of the previous FY22, according to the latest Bangladesh Bank data.
The country imported goods and services worth $58.78 billion during July-April of FY23, down 14.4% year-on-year, while its exports were worth $45.68 billion, up 5.38% year-on-year, according to official data.
Foreign payments are made from the country's current account balance.
If the current account balance becomes negative, the payments are made from the financial account and if this account goes negative as well, then the forex reserve becomes the last option for payment.
According to the latest central bank report, the financial account deficit increased to $2.16 billion in the ten months of the current fiscal year.
The account was positive at $11.95 billion during the same period of the previous year.
According to the latest central bank report, the current account deficit stood at $3.77 billion in the first ten months of FY23.
It was $15.48 billion in the same period of the previous fiscal year.
The central bank has been asked to maintain net reserves of $24.5 billion at the end of June this year as a condition of the $4.7 billion loans from the IMF.
Currently, the net reserves hover near $20 billion.
