July trade gap stands at $1.05 billion

The country’s merchandise trade gap with the rest of the world stood at $1056 million (or $1.05 billion) in the first month of the current fiscal year (FY18).

Provisional statistics, released by the central bank, also showed that deficit in service trade stood at $419 million in July of FY18.

Again in July, current account balance dipped to $497 million deficit which was $379 million surplus in the same month of the previous year.

Overall balance of payments (BoP) also registered deficit worth $179 million in July of this fiscal year which was $480 million surplus in the same month of the past year.

The monthly update of the BoP also showed that net inflow of foreign direct investment (FDI) was estimated $160 million in July this year while the gross inflow stood at $255 million.