The IMF's fiscal monitor estimates that the US deficit for 2024 will reach 6.67% of GDP, rising to 7.06% in 2025 - double the 3.5% in 2015
Drop in export earnings raises Bangladesh trade deficit despite fall in import payments
Bangladesh’s trade deficit has increased to $5.62 billion in the first four months of the current fiscal year from a little over $5.324 billion in the July-October period last year.
Published : 10 Dec 2019, 07:44 PM
Updated : 11 Dec 2019, 06:42 AM
A 6.65 percent drop in export earnings has driven the 296 million or around 6 percent rise in trade deficit despite a 3.17 percent fall in import payments in this period, according to economists.
According to the latest data released by the Bangladesh Bank on Tuesday, overall deficit in balance of payments in July-October period this year stood at $229 million, which was $444 million in the same period last year.
Bangladesh paid $18.13 billion for import of goods while earned $12.52 billion by exporting goods in the first four months of the fiscal year.
The rise in trade deficit also came despite a fall in the first three months of the financial year. Bangladesh’s July-September trade deficit dropped to $3.71 billion from $3.85 year-on-year.
In the last fiscal year, Bangladesh’s trade deficit dropped to $15.49 billion from previous year’s $18.18 billion.
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