bdnews24.com :
The 2013-14 fiscal year closed with a $1.55 billion surplus in balance of payments, 35.22 percent lower than the last fiscal.
In 2012-13 fiscal the surplus was $2.39 billion.
Economist Zayed Bakht believes the return of political stability after the Jan 5 elections has resulted in an increase in imports, thus bringing down the surplus.
He believes given the current economy, the reduction is a return to equilibrium.
Bakht, who is a research director at the Bangladesh Institute of Development Studies, said, “After the election, confidence has returned among businessmen and industrialists and import of capital machineris and raw materials has gone up. There is nothing to be worried about.”
Bangladesh Bank released the up-to-date data on BoP on Thursday.
Trade deficit $6.8bn
In 2013-14 fiscal Bangladesh imported $36.57 billion worth of goods, about 9.5 percent higher than the last fiscal.
On the other hand in the last fiscal the country earned $29.76 billion from exports, 12 percent higher than the last fiscal.
By this account the trade deficit in that fiscal was $6.8 billion. Bangladesh has always had a trade deficit as it imports more than it exports.
A BoP surplus means the country does not have to borrow when making payments in regular trading.
