UNB, Dhaka :
The external sector of the economy is not performing well due to recent decrease in surplus in the country’s current account, says Unnayan Onneshan in its latest economic update.
In its September issue, Bangladesh Economic Update 2014 showed that the current account balance stood at USD 2,388 million in fiscal 2012-13, while the balance declined by 35.22 percent to $1,547 million in fiscal 2013-14.
Meanwhile, the total import declined by 11.36 percent and stood at $2,770 million in July of the fiscal 2014-15 compared to $3,125 million during the corresponding months of the fiscal 2013-14.
Pointing to trade deficit, the research organisation evinces that the deficit in trade balance is high and stands at $6,806 million in fiscal 2013-14.
The UO economic update also noted that there has been a decline in the rate of growth of the remittance inflow over the last few fiscals, implying lax diplomatic initiatives, administrative complexity and irregularities in manpower recruiting agencies, says the.
Referring to the recent decline in the inflow of Foreign Direct Investment (FDI), the UO observed that inadequate inflows of FDI in Bangladesh in comparison with other countries of same
economic characteristics can largely be ascribed to the lack of infrastructural facilities and recent political uncertainties in the country.
Unnayan Onneshan called for a thorough reexamination of the current trade and industrial policies to address the structural bottlenecks.
