Bangladesh’s July-August trade deficit narrows to 790 mln USD
DHAKA, Oct. 31 (nsnewswire) — In the first two months of the current 2013-14 fiscal year the country’s trade deficit narrowed by about 11 percent year on year to 790 million U.S. dollars, showed officials data Thursday.
According to statistics of the central bank of Bangladesh, the country’s import payment was 5.783 billion U.S. dollars in the first two months of 2013-14 fiscal year (July 2013-June 2014) while earning from export was 4.993 billion U.S. dollars during the same period.
The South Asian country’s gap between export earnings and import payments during the July-August period of 2012-13 fiscal year (July 2012-June 2013) was estimated at 885 million U.S. dollars.
Official statistics showed the country’s imports in July-August period of 2013-14 fiscal year surged by 10.57 percent from that of 2012-13 fiscal year, while year-on-year exports rose 14.91 percent in the same period.
Strong remittances from nearly 9 million Bangladeshis, living and working abroad, helped offset the impact of the trade shortfall and kept the overall balance of payments in surplus.
Non-resident Bangladeshis in July-August remitted home home 2.25 billion U.S. dollars in the first two months of the current fiscal year.
Bangladesh’s trade deficit between July 2012 and June 2013 slid by about 25 percent to 7.01 billion U.S. dollars year on year. Enditem