News ID: 652
Published: 0515 GMT August 22, 2014

Bangla trade deficit narrows

Bangladesh's trade deficit narrowed slightly in the last fiscal year 2013-14 concluded in June on the back of an increase in exports, said a central bank official.

Trade deficit in the last fiscal year 2013-14 (July 2013-June 2014) narrowed 3 percent to $6.81 billion compared to a year earlier, said the Bangladesh Bank (BB) official.

The official, who preferred to be unnamed, told Xinhua that the country's import payment was $36,571 billion, up 8.92 percent in the last fiscal year while earnings from exports stood at $29,765 billion, up 12.04 percent during the same period, Xinhua reported.

The gap between Bangladesh's export earnings and import payments in July-May period of the last fiscal year was $6.179 billion, it showed.

Officials said remittances from nearly nine million Bangladeshis, living and working abroad, helped offset the impact of the trade shortfall and kept the overall balance of payments in surplus.

The BB data showed in the 2013-14 financial year inflow of remittances stood at nearly $14.23 billion.

Bangladesh's trade deficit between July 2012 and June 2013 slid by about 25 percent to $7.01 billion year-on-year.


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