Bangladesh’s current account deficit under the balance of payments fell to Tk 698.81 billion in FY24, marking a significant 35.6% improvement from Tk 1.085 trillion in FY23, according to the Bangladesh Bank.

This improvement was driven by a 5.2% rise in exports and a robust 22.5% growth in secondary income, including a 23.9% increase in net remittances.

Exports reached Tk 4.941 trillion in FY24, up 7% from the previous year, with manufactured goods accounting for 97% of the total. The US remained the largest export market, purchasing Tk 843.11 billion worth of goods. Meanwhile, imports slightly declined to Tk 7.414 trillion, with China continuing as the top supplier at Tk 2.117 trillion, or 28.6% of total imports.

The trade deficit narrowed to Tk 2.493 trillion from Tk 2.707 trillion in FY23. However, the services account deficit widened to Tk 436.2 billion, and the primary income deficit rose to Tk 480 billion. Secondary income inflows grew to Tk 2.710 trillion, supported by increased remittances.

This data highlights a notable recovery in Bangladesh’s external accounts, driven by stronger exports and remittance growth, despite challenges such as rising deficits in services and primary income.