Bangladesh’s 2016-17 fiscal trade deficit widens to 9.47 bln USD
| DHAKA, Aug. 17 (NsNewsWire) — Bangladesh’s trade deficit ballooned in the last fiscal year 2016-17 concluded in June on the back of an increase in imports, said the central bank Wednesday, reports Xinhua. Trade deficit in the last fiscal year 2016-17 (July 2016-June 2017) surged 46 percent to 9.47 billion U.S. dollars compared to a year earlier, according to data released by the Bangladesh Bank (BB) on Wednesday. Bangladesh import payment was 43.49 billion dollars, up 9 percent, in the last fiscal year while earnings from exports stood at 34.02 billion dollars, up 1.73 percent, during the same period, the BB data showed. The gap between Bangladesh’s export earnings and import payments in July-May period of the last fiscal year was 9.20 billion dollars, it showed. Officials said remittances from some 10 million Bangladeshis, living and working abroad, as always helped offset the impact of the trade shortfall and kept the overall balance of payments in surplus. The BB data showed in the 2016-17 financial year, inflow of remittances stood at nearly 13 billion dollars. Enditem |