Bangladesh trade deficit shrinks

Bangladesh's trade deficit in the first seven months of the current fiscal year 2013-14 (July 2013- June 2014) slid by about 35 percent to nearly 3 billion U.S. dollars year on year, showed the central bank data Thursday. The Bangladesh Bank (BB) data showed the country's import payment was 2 billion U.S. dollars, up 3.99 percent, in July- January period of the current fiscal year 2013-14 while earnings from exports stood at 1.72 million U.S. dollars, 15.18 percent higher, during the same period. The BB data showed the gap between Bangladesh's export earnings and import payments in July-December period of 2013-14 fiscal year was 2.44 billion U.S. dollars. Official statistics showed a decreased import trend in consumer goods, fertilizer and petroleum products which have virtually resulted in a significant reduction in the trade deficit during the first seven months of 2013-14 fiscal year. In the previous 2012-13 fiscal year (July 2012-June 2013), Bangladesh's trade deficit slid by about 25 percent to 7.01 billion U.S. dollars year on year.