Imports in the country have increased at a huge rate, but the export income has not been compared to that. As a result, Bangladesh’s trade deficit with the outside world has increased to a record level. In the first nine months of the current financial year, the trade deficit stood at ৪ 24.9 billion. The amount in the domestic currency has exceeded 2 lakh 15 thousand crore.
This information has come up in the updated report of the current account balance (payment of foreign transactions) of Bangladesh Bank on Sunday (May 8). This amount of trade deficit is more than one-third of the national budget, that is, 6 lakh 3 thousand 71 crore taka. During the same period of the previous financial year, the deficit was 1 thousand 521 crore 60 million dollars.
Bangladesh has always had a trade deficit due to lower exports than imports. But imports have risen sharply as the Corona situation has returned to normal. And this has created a big gap between import and export. Due to this the country is facing a big trade deficit. However, the people involved in the sector have said that they will look into the issue of money laundering under the guise of importing its records.
In this regard, the former governor of Bangladesh Bank. Saleh Uddin Ahmed said imports are more than exports. That is why the trade deficit is increasing. But the thing we have to be careful about is the imports that are being paid for. Is it actually coming to the country? Or money is being smuggled under the guise of import.
He said the issue of money laundering should be looked into by Bangladesh Bank Customs and NBR. There are many tricks in importing goods. The money came in empty containers. Regulatory bodies need to strictly monitor these issues.
According to the statistics, exports increased by 32.92 percent from July to March of the current financial year. On the other hand, imports have increased by 43.6 percent. In the nine months discussed, the country has earned 3,862 million dollars from exports. The cost of importing goods has been 6,152 crore dollars. Excluding export earnings from import expenditure, the trade deficit stood at ৪ 2.49 billion.
The trade deficit in the services sector also increased during the period under review. In the first nine months of the current financial year, Bangladesh has earned 606 crore dollars in the service sector. On the other hand, the country has spent 969 crore dollars in the service sector. The deficit in the service sector stands at ৮ 2.7 billion. The deficit during the same period of the previous financial year was ১৯৯ 1.9 billion.
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Current account balance (current account balance) deficit
Current account balance (current account balance) Bangladesh is in a big deficit. In the first nine months of the current financial year, the deficit (negative) amount is one thousand 140 crore 60 million dollars. At the same time in the previous fiscal year, the deficit was কোটি 555 million.
The overall transaction deficit is ০ 3.09 billion
The overall transaction deficit stood at কোটি 39.7 million. The index had a surplus of ৯ 6.99 billion in the same period last fiscal.
Decreased remittances
Data analysis shows that from July to March, remittances to the country amounted to ৭৮ 1.57 billion, which is 16.64 percent less than the same period of the previous fiscal year.
FDI has increased by 33.82 percent
Foreign direct investment (FDI) has increased in the country. In July-March of the last financial year, Bangladesh received FDI of 261 crore 30 million dollars. During the same period of the current financial year, it has increased to 349 crore 40 million dollars.
The total foreign investment that comes directly to the various sectors of Bangladesh, after the investor company takes the profit money, what is left, is called net FDI. During the period under review, net foreign investment also increased by 46.8% over the previous year and stood at ৬৭ 160 million. At the same time last year, net foreign investment was ৪ 114 million.
