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Service trade crosses $10 billion mark in FY17

FE Online Report | Published: September 04, 2017 14:32:10 | Updated: October 24, 2017 12:02:21


The country’s trade in service with the rest of the world crossed the $10 billion level in the past fiscal year (FY17).

 

Latest statistics of the central bank showed that total value of service trade stood at $10.52 billion in the past fiscal year while it was $9.75 billion in FY16.

 

Thus, value of trade in service increased by around 8 per cent during the period under review.

 

Bangladesh Bank data also showed earnings from service export or receipts (credit) from service trade stood at $3.62 billion in the past fiscal year while payments for service import or payments (debit) from service trade were recorded at $6.90 billion.

 

As a result, deficit in service trade reached at $3.28 billion in the past fiscal year, which was $2.70 billion in FY16.

 

Trade in services generally includes travel, transport, financial activities and other services.

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