Saturday, 11 August 2007

Bangladesh: BoP surplus reaches $1,027m in 11 months

Boosted by a surge in remittances, the balance of payments (BoP) surplus reached US$1,027 million in the first 11 months of the last fiscal (2006-07), despite a fall in foreign direct investment (FDI) and foreign aid.
The overall balance was only $121 million surplus during the same period of FY '06.

BoP is the difference between the amount paid by a government to other countries and the amount it receives from them.

The trade imbalance, however, has increased around 20 percent to reach $3,304 million compared with the same period of the 2005-06 fiscal as imports surpassed exports.

Imports rose by 17.66 percent in 11 months compared with the same period of FY 2005-06.

Meanwhile, exports marked increase over the corresponding period of the 2005-06 fiscal year. The export growth in the July-May period in FY '07 marked almost 17 percent rise to reach $10,883 million against $9,308 million in FY 2005-06. [Read more]

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