Bangladesh shipped $11.37 billion worth of merchandise in the first quarter
Exports grew 2.9 percent in July, the first month of fiscal year 2024-25, driven by higher shipments of winter clothes for the Western markets.
Although Bangladesh posted a higher export growth in the just-concluded fiscal year on the back of garments and some non-traditional items, four major sectors suffered a fall, raising concerns for the economy and the employment sector.
Bangladesh’s exports to Asian markets are growing steadily thanks to increasing demand from several major markets but the country needs to sign trade pacts and diversify products in a continent where the consumer class is fast expanding.
Bangladesh welcomed 2022 on a strong footing and was about to recover from the coronavirus pandemic in full swing and fire on all cylinders. In fact, economic activities were almost back to the pre-Covid level.
Whenever there is a discussion about trade, investments, exports and economic growth, quite often much focus is placed upon infrastructure as the core challenge of our export growth. But is it the only hurdle?
Finance Minister AMA Muhith has really dreamt of a big budget in every respect -- from expenditure to revenue generation. And he no longer wants to live in the 6 percent GDP class to push beyond 7 percent. But his big dream promises to put extra pressure on people across the board, as he plans through his VAT and other tax proposals to extract that extra penny from every pocket.
The foreign currency reserve of Bangladesh hits a new record crossing a $ 27-billion mark.
Bangladesh shipped $11.37 billion worth of merchandise in the first quarter
Exports grew 2.9 percent in July, the first month of fiscal year 2024-25, driven by higher shipments of winter clothes for the Western markets.
Although Bangladesh posted a higher export growth in the just-concluded fiscal year on the back of garments and some non-traditional items, four major sectors suffered a fall, raising concerns for the economy and the employment sector.
Bangladesh’s exports to Asian markets are growing steadily thanks to increasing demand from several major markets but the country needs to sign trade pacts and diversify products in a continent where the consumer class is fast expanding.
Bangladesh welcomed 2022 on a strong footing and was about to recover from the coronavirus pandemic in full swing and fire on all cylinders. In fact, economic activities were almost back to the pre-Covid level.
Whenever there is a discussion about trade, investments, exports and economic growth, quite often much focus is placed upon infrastructure as the core challenge of our export growth. But is it the only hurdle?
Finance Minister AMA Muhith has really dreamt of a big budget in every respect -- from expenditure to revenue generation. And he no longer wants to live in the 6 percent GDP class to push beyond 7 percent. But his big dream promises to put extra pressure on people across the board, as he plans through his VAT and other tax proposals to extract that extra penny from every pocket.
The foreign currency reserve of Bangladesh hits a new record crossing a $ 27-billion mark.
