BD trade deficit in H1 narrows on export pick-up

Published: February 07, 2019 13:57:39 | Updated: February 08, 2019 11:42:17

Photo Sources: Wikipedia

Bangladesh's trade deficit narrowed slightly in the first half (H1) of the current 2018-19 fiscal year (July 2018-June 2019) on the back of an increase in exports, said a central bank official on Wednesday.

Trade deficit narrowed 11.22 per cent to $7.66 billion in July-December this fiscal year (FY) compared to the same period a year earlier, said the Bangladesh Bank (BB) official who did not like to be named.

Quoting the BB data, he said the country's import payment was 27.823 billion US dollars, up 5.73 per cent, in July-December period of the current fiscal year while earnings from exports stood at $20.163 billion, up 14.01 per cent, during the same period.

The central bank data showed the gap between the country’s export earnings and impPhoto Sourcesort payments in July-December period of previous 2017-18 fiscal year (July 2017-June 2018) was $8.63.

In the last fiscal year 2017-18, Bangladesh incurred a wider trade deficit, reports Xinhua.

The country's balance of trade in goods expanded to $18.26 billion deficit in the last FY 2017-18, compared with $9,472 million in the previous FY 2016-17 (July 2016-June 2017).

Share if you like