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“Trade deficit narrowed,” Jalil |
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April 6, 2000
Sangsad
Bhaban, Apr 5 (UNB) – Commerce Minister M A Jalil told Parliament today
(Wednesday) that since the present government came to power, Bangladesh
has been able to narrow its trade deficit with the increase of import by
different countries. Replying
to a supplementary from Panchanan Biswas (Awami League-Khulna), he said
quoting statistics that Bangladesh’s exports were US$3,882 million in
fiscal 1995-96 against imports of $6,827 million, showing a trade deficit
of $2,945 million. In
fiscal 1996-97, exports totaled $4,418.28 million while imports were
$7,850 million, with a trade deficit of $2,732 million. In
1997-98, exports were $5,168 million and imports $7,545 million, with
trade deficit showing $2,477 million. In
1998-99, exports stood at $5,313 million against the import of $8,006
million. Trade deficit for the fiscal was $2,693 million. Export
earning rose by 36.84 per cent (in terms of US dollar) in fiscal 1998-99
compared to 1995-96, the Commerce Minister said, replying to a question
from Abdul Latif Mirza (AL-Sirajganj). He
said 20 major importers of our products are USA, Germany, UK, France,
Italy, Netherlands, Belgium, Canada, Japan, Hong Kong, Spain, Sweden,
India, Denmark, Thailand, Pakistan, Iran, Australia, Turkey and
Switzerland. In
1998-99, the country has earned US$4,906.42 million from exports to those
countries, which was 92.35 per cent of total export earning for the
fiscal. Bangladesh
exports included woven and knit wears, frozen shrimps, leather, jute
products, footwear, towel, specialized textiles, tea, raw jute, chemical fertilizer,
tents, golf shafts, fishing reel, textile fabrics, handicrafts, leather
products, ceramic, frozen fish, bicycle and camera parts. Replying
to M Wazi Uddin Khan (AL-Pabna), the minister admitted rise in trade
deficit in fiscal 1998-99 and said severe flooding in 1998 increased
import of food grains which in turn increased the trade deficit. The
trade deficit in 1998-99 rose by US$309 million, which was 12.96 per cent
more as compared to fiscal 1997-98, he said. In
reply to Kazi Sirajul Islam (AL-Faridpur), Jalil said Bangladesh imported
readymade garments and clothes worth Tk 469.1 crore in fiscal 1998-99 from
Thailand, India, Taiwan, Pakistan, Hong Kong, Indonesia, South Korea and
others. Responding
to a supplementary question, he said that in the first eight months of the
current fiscal year (July-February), Bangladesh exported goods worth Tk
18,329.46 crore.
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