Trade deficit increases by over 15 m USD

Trade deficit increases by over 15 m USD
Published 23 February 2020

 

Till February 7 of 2019-2020 fiscal year, there was a trade deficit of 939.218 million US dollars, up 15.505 million US dollars, compared with the same period last year, according to the Commerce Ministry.

During over four months of the current fiscal year, the exports reached 6.507 billion US dollars and the imports, 7.446 billion US dollars.

In the same period last year, the trade deficit stood at 923.703 million US dollars.

The total trade value is projected to hit 34 billion US dollars in 2019-2020 FY and the exports, 18 billion US dollars, according to the Commerce Ministry.

There was a trade deficit of over 1.15 billion US dollars in 2018-19 FY though the total trade deficit was expected to hit 500 million US dollars.

The ministry faces many difficulties as it has set a target of putting the trade deficit at 500 million US dollars in 2019-20 FY.  

The total trade value exceed 18 billion US dollars and the trade deficit hit over one billion US dollars in the six-month budget of 2018.