Total value of the country’s trade in services crossed $12 billion mark in the first nine months of the current fiscal year (FY19), according to the latest statistics of the central bank.
The balance of payments (BoP) table, prepared by Bangladesh Bank, showed that earnings from service export stood at $5.04 billion in July-March period of FY19 which was $3.25 billion in the corresponding period of FY18.
Thus, service export jumped by 55 per cent during the period under review.
Earnings from service export are usually recorded as receipts or debit at the BoP table while payments for service import as payments or credit.
Central bank statistics also showed that payments for service import stood at $7.73 billion in the first nine months of the current fiscal year which was $5.83 billion during the same period of FY18 registering around 33 per cent import growth.
As a result, total value of service trade reached at $12.77 billion in July-March period of FY19 which was $9.08 billion in the same period of FY18.
Deficit in service trade was, however, almost static during the period under review. It was $2.68 billion in the first three quarters of the current fiscal which was $2.58 billion in the same period of the previous fiscal year.
