Trade imbalance also declined in the same period due to export growth, according to Bangladesh Bank statistics.

Despite larger service and income deficits, current account balance recorded a bigger surplus of US$408 million in July-September of FY2007 against that of $132 million in the same period of FY2006.

Trade balance marked a smaller deficit of $417 million in July-September of this fiscal compared to the deficit of $596 million during the same period of the previous financial year.

The growth in remittance inflow was over 24 per cent in the first three months of the current fiscal. Remittances in July to September period of FY2007 stood at $1328 million, which was $1071 million during the same period of the last fiscal.

The amount of total remittance reached around five billion dollars in the last fiscal mainly due to increase in skilled labour force abroad and government's efficient move against money laundering.

On the other hand, exports recorded a 32 percent growth in July-September of FY2007 over the same period of the previous fiscal while import payments registered a 19.80 percent growth over the corresponding period of the previous fiscal.

Export earnings amounted to $3225 million in the first three months of FY2007 against $2444 million during the same period of the previous fiscal.

Import payments in July-September of the current fiscal increased by $602 million to $3642 million compared to $3040 million during the same period of FY2006.

Meanwhile, fresh opening of LCs (letter of credits) in July-September of FY2007 increased by $673.59 million or 18.91 percent to $4235 million against $3561 million during the same period of FY2006.