BD’s trade with BRICS up, deficit surges

Dhaka,  Wed,  27 September 2017
Published : 20 Jun 2017, 11:32:38

Bangladesh’s trade with BRICS registers modest growth, but deficit surges

FE Online Report
Bangladesh’s trade with the BRICS (Brazil, Russia, India, China, and South Africa) increased modestly in the past year.

Data generated from the International Trade Centre’s (ITC) Trade Map showed that bilateral trade with BRICS, an alliance of advanced developing countries, stood at $24.53 billion in 2016.

The value of the bilateral trade was $23.42 billion in 2015. Thus bilateral trade with BRICS registered 4.73 per cent growth during the period under review.

Bangladesh has, however, facing huge deficit with the BRICS in trade.

The ITC data showed that bilateral trade deficit with BRICS surged at $19.70 billion in the past year which was $18.78 billion in 2015 and $16.99 billion in 2014.  

Two countries of the alliance, China and India, are leading trade partners of Bangladesh.

Bangladesh historically imports more from these two countries than export to these countries.

Trade with three other countries namely Brazil, Russia, and South Africa is still small.

- AK
Editor : A.H.M Moazzem Hossain
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