Regional & International Economy

Bangladesh’s per-capita foreign debt ballooned to USD460 or Tk 39,000 in the fiscal year 2021, up by over $67 from the figure a year before, according to central bank statistics. Such a buck in external debt derives from a rise in the total external debts of the country in the …

The customs authority yesterday reduced import tariff for onion and raw sugar in order to cut costs of businesses and contain the spiralling prices of the two popular items, according to notifications from the National Board of Revenue (NBR). The NBR removed 5 per cent customs duty on import of …

Bangladesh is forecast to remain ahead of India in terms of per capita gross domestic product (GDP) in the next five years to 2026 powered by buoyancy in remittance, exports and agricultural activities. With $355 billion, Bangladesh, the second-biggest economy in South Asia, first overtook India in 2020 in terms …

Prime Minister Sheikh Hasina yesterday laid emphasis on expanding fields of cooperation with Moscow, saying Bangladesh will welcome Russia’s investment in its jute industry. “Bangladesh will welcome Russian investment in jute,” the premier said while newly appointed Russian Ambassador to Bangladesh Alexander Vikentyevich Mantytskiy called on her at her official …

Two-hundred metric tonnes of liquid oxygen, imported by rail from India, has been unloaded at Benapole land port for the first time. It was previously unloaded at Bangabandhu Bridge West Station in Sirajganj. The liquid oxygen was unloaded last night in a tanker at Benapole Port’s gate-2 from India’s Oxygen …

The International Monetary Fund yesterday cut the economic growth forecast for Bangladesh to 6.5 per cent for the current fiscal year from its April projection of 7.5 per cent. It came as the IMF said the outlook for the low-income developing countries has darkened considerably due to worsening coronavirus pandemic …

Commerce Minister Tipu Munshi on Thursday said the government has already taken multiple initiatives to simplify the trade procedures to be competitive in global market.

NBR sources said that over the last decade, there has not been such a big jump in revenue collection in a single month like it did in August 2021

The country’s trade deficit widened by six times or $3.42 billion year-on-year in the July-August period of the current fiscal year 2021-2022 amid a sharp increase in import payments.

US Trade Representative Katherine Tai will seek new talks with China over its failure to keep promises made in a  “Phase 1” trade deal struck with former president Donald Trump, but will not pursue  “Phase 2” negotiations over Beijing’s state subsidies and other structural issues.