The German economy became more dependent on China in the first half of 2022, with direct investment and its trade deficit reaching new heights, despite political pressure on Berlin to pivot away from Beijing, according to research seen by Reuters.

Bangladesh’s trade deficit shot up 53 per cent year-on-year to $27.5 billion in the July-April period of the current fiscal year as the surge in imports continued against lower export receipts, exceeding last year’s total shortfall.

Bangladesh’s export earning has been failing to keep pace with the import bills since the middle of 2021. At the same time, the flow of inbound remittance started decreasing and the taka began losing value against the US dollar.

Bangladesh’s current account deficit records an all-time high of $7.08 billion in the first nine months of the current fiscal year as the country's capacity to export is failing to keep up with the appetite for imports.