Bangladesh’s July-January trade deficit exceeds 10 bln USD

DHAKA, March 28 (NsNewsWire) — Bangladesh’s trade deficit in the first seven months of the current 2017-18 fiscal year (July 2017-June 2018) slid by about 92 percent to 10.12 billion U.S. dollars year on year, showed the central bank data recently, reports Xinhua.
The Bangladesh Bank (BB) data showed the country’s import payment was 31.18 billion U.S. dollars, up 25.20 percent, in July-January period of the current fiscal year while earnings from exports stood at 21.05 billion U.S. dollars, up 7.31 percent, during the same period.
The BB data showed the gap between Bangladesh’s export earnings and import payments in July-January period of previous 2016-17 fiscal year (July 2016-June 2017) was 5.28 billion U.S. dollars.
On the back of an increase in specially rice imports, the BB showed trade deficit surged 46 percent to 9.47 billion U.S. dollars in the last fiscal year compared to a year earlier.  Enditem