Home / / Bangladesh’s trade gap with SAARC widens to $2.4 b

Bangladesh’s trade gap with SAARC widens to $2.4 b

Comments / 439 Views / Wednesday, 28 March 2012 01:04

DHAKA(Reuters): Bangladesh’s trade deficit with other South Asian countries widened to about $2.4 billion during the first half of the current fiscal year ending in June, a senior official of the central bank said on Tuesday.
During the period, Bangladesh imported goods worth about $2.70 billion from members of the South Asian Association for Regional Cooperation (SAARC) while its exports to those countries totalled nearly $315 million, the official said.

SAARC groups Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
SAARC countries accounted for about 20 percent of Bangladesh’s overall overseas annual trade.
Annisul Huq, president of SAARC Chamber of Commerce and Industry, said that the exports of Bangladesh to the SAARC counties were comparatively low as Nepal and Bhutan enjoy duty-free access to the Indian market, while Sri Lanka enjoys free trade facilities with India.
Bangladesh had an overall trade deficit of $4.7 billion with SAARC countries in the previous fiscal year of 2010-11, 47.1 percent higher than in fiscal 2009-10, the central bank said.
“India and Pakistan could be our major trade partners in the region, but both the countries are also our principal competitors in the overseas market,” Huq told Reuters.
Bangladesh has the biggest trade gap with India among the SAARC countries, with an annual deficit of more than $3.0 billion, officials with the commerce ministry said.
The ready-made garment is Bangladesh’s largest export earner, which also depends on India and Pakistan for yarn and fabric.

Share This Article


Today's Columnists

Villain of Tamil cinema who terrified people with his grimaces and scowls

28 November 2015

The eighth death anniversary of a man named Manjeri Narayanan Nambiar or M.N. Nambiar fell on 19 November. He was 89 years of age at the time of his death. Nambiar was a terrible villain who could terrify people by merely grimacing and sc...

Premechandran urges general amnesty for Tamil detainees

27 November 2015

Eelam People’s Revolutionary Front Leader and TNA member Suresh Premechandran   “I don’t see any difference between the Janatha Vimukthi Peramuna (JVP) and Liberation Tigers of Tamil Eelam (LTTE) &nd...

Dissing budgets, dodging bullets, becoming a more grown-up polity

27 November 2015

Radical budgets call for reinvigorated critical engagement by Civil Society. Governments that dodge bullets and clampdown on media commentaries by their mandarins – culpable of conflicts of interest (or not); or worse, chicanery &nd...

Budget 2016 and the ‘light-touch’ education policy changes therein

25 November 2015

  While the Government provides the infrastructure, the potential to transform education is in the hands of the National Institute of Education which is responsible for curricula and teacher training and development. The spotlight rea...

Columnists More