Trade deficit projected at $33b in 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, said Bangladesh Bank in its monetary policy for the next fiscal year.

The trade deficit is expected to increase further to $36.70 billion in the next fiscal year of FY2022-23, beginning today.

The new projection is higher than the BB's initial projection in the MPS for 2021-22.

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.