Current account balance positive again after 3 years | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Thursday
November 30, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
THURSDAY, NOVEMBER 30, 2023
Current account balance positive again after 3 years

Economy

Rejaul Haque Kawshik
15 September, 2019, 09:40 pm
Last modified: 02 October, 2019, 03:08 pm

Related News

  • Remitters can now deposit in forex – with up to 9% interest
  • Only approved appraisers to assess loan collateral: Cenbank 
  • Reserves now at $19.52 billion: Bangladesh Bank
  • Google begins deleting inactive accounts from Friday
  • Usable forex reserves stands at $15.82 billion

Current account balance positive again after 3 years

In July, the first month of the current fiscal year, there was a surplus of $24 crore in the current balance

Rejaul Haque Kawshik
15 September, 2019, 09:40 pm
Last modified: 02 October, 2019, 03:08 pm

Bangladesh's current account balance has become positive again after three years.

In July, the first month of the current fiscal year (FY), there was a surplus of $24 crore in the current balance. During the same time last year, there was a deficit of $14.9 crore.

According to Bangladesh Bank, in FY 2015-16, there was a surplus of $426.20 crore. The following three years experienced a deficit in the current account.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Indeed, in the first month of the current FY, the trade deficit decreased following a decrease in import growth, and an increase in export and remittance sent by expatriates.

The current account is now witnessing a surplus. In the last FY, the trade deficit decreased by 15 percent compared to that in the previous FY. In July of the last FY, there was a trade deficit of $116 crore, but that stood at $98 crore in July of this FY.

In FY 2016-17, the trade deficit increased to $1825 crore, which is a record in Bangladesh.

Dr Nazneen Ahmed, a senior research fellow at the Bangladesh Institute of Development Studies (BIDS), said, "The current account becomes positive when export earnings and remittance income are good. The trade deficit decreases for the same reason."

She further said that imports that were increasing before, are now decreasing. In the first month of any FY, the current account remains positive, and a decrease in trade deficit is a positive sign for any economy. Besides, the increase in foreign exchange reserves will help to lessen the pressure on banks.

According to the last report of Bangladesh Bank, import in this FY has increased compared to that in the previous year. Compared to import in July last FY, there has been a growth of 2.26 percent in July this FY, which is the slowest growth ever.

On the other hand, there is a growth of 8.11 percent in export. According to statistics from Bangladesh Bank, in July this year, there was an increase of almost $28 crore in remittance compared to that in July last FY.

The foreign exchange reserve has increased because of a decrease in the trade deficit and a surplus in the current account. At the end of July this year, the foreign exchange reserve stood at $3209.33 crore, up from $3099.43 crore in May.

Bangladesh / Infograph / Top News

Bangladesh Bank / Account / Balance

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Go for reforms as Five-Year Plan goes off track: Report
    Go for reforms as Five-Year Plan goes off track: Report
  • Small parties make big buzz. Polls look 'participatory'
    Small parties make big buzz. Polls look 'participatory'
  • File Photo: Reuters
    Dollar rate cut again, by Tk0.25, within a week

MOST VIEWED

  • Tax return time extension likely
    Tax return time extension likely
  • 12 expressways outlined for wider connectivity by 2041
    12 expressways outlined for wider connectivity by 2041
  • Photo: TBS
    Ctg city enters ‘Smart School Bus’ era
  • The architectural design of Anukrom is a triumph of purpose and ingenuity – a rectangular structure that stretches east to west, crafting out two courtyards. Photo: Shakil Hai
    Anukrom: A mother’s dream, a son’s guilt and an award-winning home
  • Representational image. 
Photo: Dmytro Demidko on Unsplash
    Usable forex reserves stands at $15.82 billion
  • File Photo: Reuters
    Reserves now at $19.52 billion: Bangladesh Bank

Related News

  • Remitters can now deposit in forex – with up to 9% interest
  • Only approved appraisers to assess loan collateral: Cenbank 
  • Reserves now at $19.52 billion: Bangladesh Bank
  • Google begins deleting inactive accounts from Friday
  • Usable forex reserves stands at $15.82 billion

Features

Disadvantaged groups are more exposed to climate effects and less able to recover from damages. A Bangladeshi family travels to a safer location as water enters new areas after the cyclone Aila hit Bangladesh in 2009. Photo: Abir Abdullah

Climate and inequality entwinement imperils us all

16h | Panorama
A lesson on living the moment: 20 years of Kal Ho Naa Ho

A lesson on living the moment: 20 years of Kal Ho Naa Ho

1d | Features
In Barishal’s case, the low-cost of travel via waterways encourages people to migrate to Dhaka and other cities, like Chattogram. Photo: Syed Zakir Hossain

Why nearly a-fifth of people from Barishal moved to Dhaka

1d | Panorama
Photo: Salahuddin Ahmed/TBS

Political unrest hampers admission prep for HSC 2023 intake

1d | Education

More Videos from TBS

Why is Google deleting inactive accounts?

Why is Google deleting inactive accounts?

2h | Tech Talk
Ukraine is trying to increase exports amid fears

Ukraine is trying to increase exports amid fears

5h | TBS World
Cats and dogs in the whole house of one bigha of land in Narayanganj!

Cats and dogs in the whole house of one bigha of land in Narayanganj!

4h | TBS Stories
Referees being helped by British Airways pilots to improve VAR chaos

Referees being helped by British Airways pilots to improve VAR chaos

3h | TBS SPORTS
EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]