Bangladesh trade deficit with 82 countries

June 24, 2024 2:32 am

Bangladesh State Minister of Commerce Ahsanul Islam Titu said that currently Bangladesh has commercial transactions with 210 countries of the world. Bangladesh has a trade deficit with 82 countries. According to the 2022-23 fiscal year, Bangladesh has a total trade deficit of $15,239.55 million. Dr. National Parliament on Sunday. He said this in response to a question from Samil Uddin Ahmed Shimul.

Md. In response to another question from Abul Kalam, the state minister said that Bangladesh currently has a trade deficit with Afghanistan, Bhutan and Pakistan, except for Nepal, Sri Lanka and Maldives among SAARC countries. There is a deficit of 1.49 million dollars with Afghanistan, 14.49 million dollars with Bhutan, 7160.81 million dollars with India, 614.73 million dollars with Pakistan. On the other hand, 41.54 million dollars are quoted with Nepal, 9.07 US dollars with Sri Lanka and 0.14 million dollars with Maldives.

In response to Shammi Ahmed’s question, he said that currently, the trade deficit with India is reducing due to the duty-free benefits for all products except tobacco and alcoholic products, and the export of Bangladeshi products to the Indian market is increasing. In 2022-23 financial year, Bangladesh’s exports to India crossed two billion dollars for the first time.

Export income is 44 billion dollars in 11 months
In response to a question from M Abdul Latif, the state minister said that in the current financial year (2023-24) from July to May, the export income from the ready-made garment sector was 43.85 billion US dollars. Which was 47 billion dollars last financial year (2022-23). He further said that in the fiscal year 2022-23, the export of ready-made garments worth US$ 46.9 billion. In this case the growth rate was 10.27 percent. In the current financial year (2023-24) from July to May, the export revenue from the ready-made garment sector has reached 43.85 billion US dollars and the growth is 2.86 percent.

Export earnings
In response to a question from Nurunnabi Chowdhury, he said that in the current financial year 2023-24, the amount of export income in the commodity sector till May is 51 thousand 542.70 million dollars. At this time, the export income of the service sector was 5 thousand 83.36 million dollars.

garment worker
In response to a question from Nurunnabi Chowdhury, the state minister said that according to BBMEA data, there are 33 lakh 17 thousand 397 workers in garment factories made in Bangladesh. Among them 52.28 percent are women workers.

price inflation
In response to a question from Morshed Alam, Ahsanul Islam Titu said, 5.48 percent in 2018-19 fiscal year, 5.65 percent in 2019-20 fiscal year, 5.56 percent in 2020-21 fiscal year, 6.15 percent in 2021-22 fiscal year and 2022-23 fiscal year. Inflation was 9.02 percent.