Export earnings expected to reach $50B this fiscal year 
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Wednesday
February 08, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
WEDNESDAY, FEBRUARY 08, 2023
Export earnings expected to reach $50B this fiscal year 

Economy

Reyad Hossain
09 May, 2022, 08:45 pm
Last modified: 10 May, 2022, 11:46 am

Related News

  • RMG turns to India from China to get cheaper man-made yarn
  • BGMEA calls for strict actions against theft of garments destined for export
  • RMG factories running below capacity due to less work orders: BGMEA chief
  • Bangladesh's FY22 GDP insight
  • FDI from US halves after sanctions

Export earnings expected to reach $50B this fiscal year 

Bangladesh’s export earnings have almost reached its export target amounting to 43.5 billion set for FY22 in 10 months

Reyad Hossain
09 May, 2022, 08:45 pm
Last modified: 10 May, 2022, 11:46 am
Export earnings expected to reach $50B this fiscal year 

Exporters and Export Promotion Bureau officials have expressed hope that Bangladesh's goods exports will reach a milestone of $50 billion after the end of the current fiscal year 2021-22, which will be $7 billion more than the target.

AHM Ahsan, vice-chairman of EPB, told TBS, "If we take $8 billion worth of services exports into account, our exports will reach $58 billion after the end of the current fiscal year."

The exports will continue to grow this way until next October, he noted.

Bangladesh's export earnings have almost reached its export target amounting to 43.5 billion set for FY22 in 10 months, thanks to growing global demand for apparels and shifting of a good number of work orders from China.

In April, the exports clocked the $4 billion mark for the eight consecutive month with a little over 51% year-on-year growth.

In July-April, the country raked in $43.34 billion in exports with the readymade garment sector having been the major contributor as usual - it alone accounts for more than 81%, according to sources at the Export Promotion Bureau (EPB). 

Shahidullah Azim, vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) told The Business Standard, "The ongoing robust growth of RMG exports will continue in upcoming months too."

The RMG exports will surpass $43 billion while the target was $35 billion for FY22, he noted.

Shahidullah Azim said RMG exports have potential to grow at a higher rate if customs-related complications are eased and business costs are reduced.

The RMG sector apart, frozen and live fish, agricultural goods, leather goods, home textiles, pharmaceuticals and plastics also posted a robust growth.

Three potential sectors, leather and leather goods, agricultural products and home textiles crossed the $1 billion mark, but jute and jute goods registered a negative growth.

Industry leaders say China's gradual pulling out of the apparel business owing to high production costs has come as a blessing for Bangladesh as it is now getting many orders shifting from the world's largest exporter.

Besides, consumers still continue to release their pent-up demand for clothing in particular after the pandemic situation normalised, leading to word order pouring in a big number.

 

Bangladesh / Top News / Trade

Export earnings / RMG / Economy

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • RMG turns to India from China to get cheaper man-made yarn
    RMG turns to India from China to get cheaper man-made yarn
  • Country's revenue earnings were Tk40,000cr more in last fiscal: Finance Minister
    Country's revenue earnings were Tk40,000cr more in last fiscal: Finance Minister
  • The world's richest person is trying to head off a succession battle
    The world's richest person is trying to head off a succession battle

MOST VIEWED

  • The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
    IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms
  • Will reform pledges to IMF work this time?
    Will reform pledges to IMF work this time?
  • Despite downturn 3 dozen listed firms plan Tk7,500cr investment
    Despite downturn 3 dozen listed firms plan Tk7,500cr investment
  • International Monetary Fund logo : AP via UNB
    IMF sets time-bound reform agenda as it releases first tranche of loan
  • NBFIs can no longer borrow from call money market: Cenbank
    NBFIs can no longer borrow from call money market: Cenbank
  • Song of the farmers as boro begins
    Song of the farmers as boro begins

Related News

  • RMG turns to India from China to get cheaper man-made yarn
  • BGMEA calls for strict actions against theft of garments destined for export
  • RMG factories running below capacity due to less work orders: BGMEA chief
  • Bangladesh's FY22 GDP insight
  • FDI from US halves after sanctions

Features

Photo: Reuters

A tragedy that will also shake up the region's geopolitics

13h | Panorama
Nimah designed by Compass Architects- Wooden tiles. Photo: Junaid Hasan Pranto

Trendy flooring designs to upgrade any space

1d | Habitat
Benefits of having high ceilings in your new home

Benefits of having high ceilings in your new home

23h | Habitat
Each Reverse Osmosi plant can produce approximately 8,000 litres of drinking water a day for around 250 families. Photo: Sadiqur Rahman

A drop in the ocean of persistent water crisis

1d | Panorama

More Videos from TBS

30% companies see double-digit growth even in hard times

30% companies see double-digit growth even in hard times

15h | TBS Insight
Challenging time waiting for RMG

Challenging time waiting for RMG

22h | TBS Round Table
"Full Moon Meditation" organized by Department of Theater and Performance Studies, University of Dhaka

"Full Moon Meditation" organized by Department of Theater and Performance Studies, University of Dhaka

22h | TBS Graduates
10 cricketers who have played over 400 T20 matches

10 cricketers who have played over 400 T20 matches

22h | TBS SPORTS

Most Read

1
Photo: Courtesy
Panorama

From 'Made in Bangladesh' to 'Designed in Bangladesh'

2
Master plan for futuristic Chattogram city in the making
Districts

Master plan for futuristic Chattogram city in the making

3
Photo: Collected
Crime

Prime Distribution MD Mamun arrested in fraud case

4
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

5
Photo: Collected
Startups

ShopUp secures $30m debt financing to boost expansion, supply chain

6
ICB to withdraw Padma Bank investment as return eludes
Banking

ICB to withdraw Padma Bank investment as return eludes

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net