Bangladesh's trade deficit balloons to 4.273 bln USD in July-January

Bangladesh's overall trade deficit in the first seven months of the current 2010-11 fiscal year (July 2010- June 2011) widened to over 4.273 billion U.S. dollars, official statistics showed on Sunday.

Statistics of the Bangladesh Bank (BB) showed that the country exported 12.214 billion U.S. dollars of goods while it imported items worth 16.487 billion U.S. dollars in the July-January period.

The overall trade deficit in the same period of the previous 2009-10 fiscal year (July 2009-June 2010) was nearly 2.975 billion U.S. dollars when Bangladesh's export earning and import payment stood at 8.730 billion and 11.705 billion U.S. dollars, respectively, the BB data showed.

In the first seven months of the current fiscal year, it showed, Bangladesh's export and import earnings surged 39.91 percent and 40.85 percent respectively compared to the same period a year earlier.

Bangladesh's trade deficit in the last fiscal year ballooned nearly 10 percent year on year to over 5 billion U.S. dollars as import rebounded since April after months of slump in the wake of the global economic recession.
(Source:http://news.xinhuanet.com)