Trade deficit ups slightly in July-Nov

FT ONLINE

Country’s bilateral trade deficit with the rest of the world increased slightly in the first five months of the current fiscal year (FY20), according to the provisional statistics of the central bank.

It showed that deficit in merchandise trade recorded at $6.68 billion in July-November period of the current fiscal year which was $6.65 billion in the same period of the last fiscal (FY19).

Bangladesh Bank statistics also unveiled that deficit in services trade, however, declined modestly to $1.36 billion in the first five months of the current fiscal year which was $1.44 billion in the same period of FY19.

Current account deficit also declined during the period under review thanks to robust growth of inflows of workers’ remittance which jumped by 22.71 percent.

The current account deficit stood at $1.10 billion in the first five months of FY20 which was $2.45 billion in the same period of the past fiscal year.

Revised estimate of the central bank also showed that there was a current account deficit recorded $1.32 billion in July-October of first four months of the current fiscal year.