Trade deficit narrows in current fiscal

The country’s trade deficit narrowed slightly during the fiscal 2013-14 ending on June 31 due to export growth by 12.04 per cent. The country’s total export stood at $29.76 billion, according to Bangladesh Bank.
However, the import payment during the fiscal was $36.57 billion, showing 8.92 percent increase compared with that of the 2012-13 fiscal.
Trade deficit in the last fiscal narrowed by 3.12 per cent i.e. an amount of $6.81 billion, said an official of Bangladesh Bank (BB).
“The ongoing export growth will surely strengthen country’s external sector
 to continue narrowing its trade deficit. Besides, remittances from nearly nine million Bangladeshis living abroad helped reduce the trade shortfall and kept the overall balance of payments in surplus position,” he said.
The BB data showed in the 2013-14 financial year inflow of remittances stood at nearly $14.23 billion.