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Bangladesh current account deficit sinks over 40 pct

DHAKA,(Xinhua)Bangladesh’s current account deficit fell more than 40 percent and reached about 2 billion U.S. dollars in the first four months of the current 2018-19 fiscal year as the country’s imports continued to plummet ahead of the general elections, a central bank official said Sunday.
Quoting the Bangladesh Bank (BB) data, the official, on condition of anonymity, said Bangladesh’s current account balance recorded a deficit of 1,992 million U.S. dollars in July-October period of the 2018-19 fiscal year (July 2018-June 2019) against 3,369 million U.S. dollars during the corresponding period of the previous fiscal year (July 2017-June 2018).
He said current account deficit, one of two major measures of the nature of a country’s foreign trade, continued to decline in the recent months after it reached the highest level in history in the wake of soaring imports bills in the last fiscal year.
The country’s current account deficit amounted to 10 billion U.S. dollars at the end of the last 2017-18 fiscal year, the BB data showed. Enditem

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