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

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


Comments / 432 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


COMMENTS

Today's Columnists

For Sri Lanka to move on, it needs a radical change in policy

29 May 2015

Each year, the World Economic Forum ranks countries in the Global Competitiveness Index — a decent gauge of which nations are best positioned to squeeze efficiency out of their businesses and to attract companies and investment from overseas...


The mouth doth speak out of the abundance of the heart

28 May 2015

   Westminster it isn’t. At least, not in terms of rapier-sharp wit and scintillating repartee! But provoke the firebrand rabble-rousers in Parliament long and hard enough, and sooner or later – out pops the cloven ho...


Enter the dragon, or will it turn more benign?

27 May 2015

A few days ago, the General Secretary of the controversial Bodu Bala Sena, Galagoda-atte Gnanasara Thera was arrested on contempt of court charges for defying a court order and subsequently released on bail. He represents the aggressive public f...


Government has failed, charges JVP’s Lalkantha

27 May 2015

In order to resolve the Wilpattu deforestation matter, the first priority should be to find a proper and suitable area to resettle the people, says JVP Politburo member K.D. Lalkantha, noting that this is a sensitive matter concerning people who h...


Columnists More