réflexions

Home » Politics: Bangladesh » >BD trade deficit swells as food imports soar

>BD trade deficit swells as food imports soar

>Bangladesh’s trade deficit in July-February surged by nearly 47 percent from a year earlier to $4.46 billion, reflecting the soaring cost of food and fuel imports, Reuters reported quoting officials on Friday. (Read full report)
Food grain imports in July to February rose more than 300 percent over a year earlier, due to rising world food prices and local supply shortages, they said.
“An abnormal rise in food grains, including rice and wheat, fertiliser and fuel in global markets have substantially increased the country’s import costs while export earnings failed to reach target,” a senior central bank official said.
The year-earlier trade deficit was $3.04 billion, central bank data showed.
Imports for July-February increased by 21 percent from a year earlier, while exports increased 11 percent, the central bank said.
Like other countries, Bangladesh has seen food and fuel import prices soar. That has pushed Bangladesh’s inflation to double digit levels and fuelled an expansion in the trade deficit.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Spectator

I welcome you all to my blog, a place where I share reports, articles and images of events taking place in Bangladesh and elsewhere in the world, which I think may be of interest to others. Please drop a few words if you feel like.
%d bloggers like this: