The Financial Express

Annual trade gap crosses $17b in FY20

| Updated: July 31, 2020 09:48:04

Annual trade gap crosses $17b in FY20

Country’s bilateral merchandise trade gap with the rest of the world crossed $17.0 billion mark in the last fiscal year (FY20), according to the latest statistics of Bangladesh Bank. 

It showed that the gap in merchandise trade stood at $17.86 billion in FY20, posting a 12.83 per cent growth over the trade gap worth $15.83 billion in FY19.

Though both the merchandise exports and imports declined in the past fiscal year, a sharp decline in exports compared to imports pushed the trade gap at a higher level.

Receipts from exports, in terms of Free on Board (FoB) value, declined by 17.10 per cent to $32.83 billion in the past fiscal year while payments for imports dropped by 8.56 per cent to $50.69 billion during the year under review.  

The latest balance of payments (BoP) table, released by Bangladesh Bank today (Tuesday) afternoon, also showed that deficit in trade in services declined moderately to $2.98 billion in FY20 from $3.17 billion in FY19.


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