Dhaka, Bangladesh (BBN)- Bangladesh entered the trade deficit territory further in August after a month because of higher import payments and relatively lower export earnings, officials said.
The country’s overall trade deficit widened by more than 26 per cent to US$999 million in the July-August period of the current fiscal year (FY) 2014-15 from $790 million in the corresponding period of the previous fiscal year, according to the central bank statistics.
The overall imports rose to $6.09 billion in the first two months of this FY from $5.78 billion in the corresponding period, while export earnings rose to $5.09 billion from $4.99 billion.
“The upward trend of overall imports may continue in the coming months if the political stability continues,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
Bangladesh recorded a trade surplus in July last for the first time in its history because of lower import payments.
The trade surplus stood at $195 million in July, the first month of the FY 15 against a deficit of $129 million in the same month a year ago, the BB data showed.
BBN/SSR/AD-15Oct14-10:41 am (BST)