Inflation was highest in 2022-23 fiscal: State Minister for Commerce

The last fiscal year, 2022-23, saw the highest inflation in the last 12 years, with an inflation rate of 9.02%.

State Minister for Commerce Ahasanul Islam Titu said this on Sunday while replying to a tabled question from ruling Awami League MP elected from Noakhali, Morshed Alam.

According to the information placed by the state minister, the inflation rate was 8.69% in the 2011-12 fiscal, 6.78% in the 2012-13 fiscal, 7.35% in the 2013-14 fiscal, 6.41% in the 2014-15 fiscal, 5.92% in the 2015-16 fiscal, 5.44% in the 2016-17 fiscal, 5.78% in the 2017-18 fiscal, 5.48% in the 2018-19 fiscal, 5.65% in the 2019-20 fiscal, 5.56% in the 2020-21 fiscal, 6.15% in the 2021-22 fiscal, and 9.02% in the 2022-23 fiscal.

In response to ruling Awami League MP Samil Uddin Ahmed, the state minister for Commerce said that currently, Bangladesh has business transactions with 210 countries worldwide. Among these countries, Bangladesh has a trade deficit with 82 countries.

According to the information placed by the state minister, Bangladesh has the largest trade deficit with China, which is $17,149.2 million. According to the statistics for 2022-23, the total trade deficit of Bangladesh is $15,239.55 million.

In response to a question from the Independent MP elected from Natore-1, Abul Kalam, Ahsanul Islam Titu said that there is a trade deficit with all SAARC countries except Sri Lanka and the Maldives