Bangladesh’s trade deficit for the 2024–2025 fiscal year reached 24.168 billion US dollars, according to Commerce Minister Khandaker Abdul Muktadir. He presented the figures in parliament on Tuesday, noting that export earnings totaled 55,191.24 million dollars while imports stood at 79,359.24 million dollars. The largest deficit was with China at 17,868 million dollars, followed by India at 7,859.87 million dollars. Other major deficits were recorded with Indonesia, Singapore, Brazil, Qatar, and Malaysia.

The minister said Bangladesh remains heavily dependent on the ready-made garment sector, which accounts for 84 percent of total export income. To reduce reliance on a single product, the government has extended bond facilities to exporters in eight additional sectors, including leather, jute, agriculture, pharmaceuticals, ICT, light engineering, frozen food, and plastics. The National Board of Revenue has issued the necessary orders to support this diversification.

He added that Bangladesh is pursuing free trade agreements and GSP Plus benefits with the European Union, China, and India to mitigate potential tariff challenges after graduating from least developed country status in 2026.