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The Financial Express

Trade gap with India reaches $5.47 billion

| Updated: January 25, 2018 11:19:03


Containers are seen piled up at Chittagong seaport. Collected photo Containers are seen piled up at Chittagong seaport. Collected photo

The country’s trade deficit with India stood at $5.47 billion in the past fiscal year (FY17) mainly due to a surge in imports from the next door neighbour.

Merchandise import from India jumped by around 13 per cent in FY17 and reached $6.14 billion (or $6146.2 million), which was $5.45 billion (or $5450.7 million) in FY16, according to the statistics released by the central bank recently.

On the other hand, exports to India dropped marginally in FY17 to $672.4 million from $689.62 million in FY16.

India is the second largest import source of Bangladesh. It is also the third largest trading partner of the country after China and the United States.

India-Bangladesh merchandise trade stood at $6.81 billion in the past fiscal year, which was $6.14 billion in FY16.

India has been providing tariff-free access to all Bangladeshi products (except 25 restrictive items) since 2011.

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