BD second largest LDC on importing commercial services

FE Online Report | Published: August 25, 2018 11:52:46 | Updated: September 13, 2018 14:37:47

Tourism is one of the major components of commercial services. Picture used for illustrative purpose only — Collected

Bangladesh is the second largest importer of the commercial services among the Least Developed Countries (LDCs).

Word Trade Statistical Review-2018, released by the World Trade Organization (WTO) last month, unveiled the scenario.

It showed that Bangladesh imported commercial services worth $9.01 billion in 2017.

The country’s share in world total imports of commercial services stood at 0.18 per cent in the past year while the ratio stood at 13.31 per cent for the total imports of the LDCs.

Angola was the largest importer of commercial services among the LDCs. The country imported commercial services worth $13.73 billion in the past year.

Commercial services are total services minus ‘government goods and services, not included elsewhere.’

The major component of the services include transport, travel, other commercial services (i.e. insurance, financial service etc) and goods-related services.