Bangladesh’s July-September trade deficit narrows to 1.27 billion USD

DHAKA, Nov. 25 (nsnewswire) — Bangladesh’s July-September trade deficit squeezed by about 33 percent year on year to over 1 billion U.S. dollars.
A Bangladesh Bank (BB) official told nsnewswire that the country’s import payment was 8,804 million U.S. dollars, down 9.37 percent, in July-September period of the current fiscal year 2013-14 while earnings from exports stood at 7,536 million U.S. dollars, 22.04 percent higher, during the same period.
According to the official, Bangladesh’s gap between export earnings and import payments during the first three months of 2012-13 fiscal year (July 2012-June 2013) was estimated at 790 million U.S. dollars.
Steady growth in inflow of remittances helped offset the impact of the trade shortfall and kept the overall balance of payments in surplus.
From nearly 9 million Bangladeshis, living and working abroad, Bangladeshis living and working abroad, the South Asian country received more than 3 billion U.S. dollars in the first quarter of the current 2013-14 fiscal year.
The country’s trade deficit between July 2012 and June 2013 slid by about 25 percent to 7.01 billion U.S. dollars year on year.