Trade deficit nearly touches $10b

Bangladesh's trade gap has widened and the deficit now nearly stands at $10 billion. This is because Bangladesh has increased the volume of oil imports substantially. The prices of fuel oil have dropped substantially in the international markets. The trade deficit for the year 2014-2015 FY ending June 30 stood at $ 9.92 billion — 46 per cent higher than last financial year. Bangladesh Bank statistics released on Tuesday indicates a 11.25 per cent rise in imports in 2014-2015 FY over the previous year with gross imports worth $40.64 billion. But the country’s exports rose by only 3.33 per cent in 2014-15 FY over the previous year with gross exports worth $30.77 billion, according to bdnews24.com.
- mbz