After skyrocketing growth in the immediate past 2021-22 fiscal year (July 2021-June 2022), the Bangladesh government has raised its export.
The export is targeted by over 11 per cent to $67 billion for the current fiscal 2022-23 years.
Bangladeshi Commerce Minister Tipu Munshi made the announcement at a news conference here on Wednesday.
According to the minister, $58 billion would come from goods exports and 9 billion dollars from the service sector.
In the last 2021-22 fiscal year, Bangladesh earned around $8 billion from services exports.
Munshi said ready-made garments, including knitwear and woven, would be given a special priority as always to achieve the goods export target in the 2022-23 fiscal year, which is from July 2022 to June 2023.
He said the export growth in the last 2021-22 attributed to demand for its ready-made garments in key global markets, which remained unaltered in the last fiscal year.
In spite of the economic consequences of the Russia-Ukraine conflict that has been hampering supply chains.
Bangladesh’s earnings from garment export, which make up more than three-fourths of the country’s annual income since the beginning of this decade, surged to $42.61 billion in the 2021-22 fiscal year.
According to data released shown by the Export Promotion Bureau (EPB) under the Ministry of Commerce.
The EPB, Bangladesh saw exports soar more than 34 per cent to $52.08 billion in the immediate past 2021-22 fiscal year.
Xinhua
