The country’s trade in services with the rest of the world came closer to US$ 10 billion in the first nine months of the current fiscal year.
Statistics available with Bangladesh Bank showed that service trade stood at $9.76 billion in the July-March period of FY18, which was $7.90 billion in the same period of FY17.
Trade in services estimates the value of services exchanged between residents and non-residents of an economy, including services provided through foreign affiliates established abroad.
Central bank data also showed that deficit in the service trade reached $3.33 billion during the period under review.
The deficit was $2.46 billion in the first nine months of the past fiscal year.
Earnings from the exports of services, recorded as credit or receipts in the service account of the balance of payments (BoP), stood at $3.21 billion in July-March period of FY18.
Payments for the imports of services stood at $6.54 billion during the same period.
Service trade includes transport (both freight and passengers), travel, communications services (postal, telephone, satellite, etc.), construction services, insurance and financial services, computer and information services, royalties and licence fees, and other business and government services.
