Finance
Export Earnings Despite crisis, export earnings rise by 5.89%
Dhaka, February 3: The world is in an economic crisis due to the pandemic and the Russia-Ukraine war. The year 2022 has passed in this crisis. Bangladesh is not out of it. Meanwhile, at the beginning of the new year, the price hike of gas and electricity in the country has put traders in more trouble. There is some good news. In January of this year, there has been an increase in export earnings. But the target could not be achieved.
It is reported that exporters earned 513 crore 62 lakh dollars ($5.13 billion) in January, which is 5.89 percent higher than the same period last year. Although this income is 2.20 percent less than the target. The export revenue target for January was Tk 5,246 crore. This information is known from the updated report of the Export Promotion Bureau (EPB) on Thursday.
Meanwhile, analyzing the data of the organization, it has been found that the export income in the seven months of July-January of 2022-23 financial year has reached 32,337 crore dollars. During this time, there was no growth in any product other than ready-made clothes. In these seven months, a total of 2,741 crore dollars worth of ready-made garments have been exported, which is 84.50 percent of the total export income. Compared to the last financial year, the growth in this sector has been 14.31 percent. Similarly, there has been an increase of 7.37 percent in leather products and 40.10 percent in plastic products.
Compared to the same period of last year, agricultural products have decreased by 25.86 percent, frozen fish by 22.39 percent, handicrafts by 34.10 percent, jute products by 21.22 percent, and glass products by 47.88 percent.
The target of export earnings in FY 2022-23 is USD 58 billion.
