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The Export Promotion Bureau (EPB) officially publishes the country’s exports of goods and services. According to their data, in the financial year 2022-23, the export of goods worth $55.56 million. Out of this, Bangladesh Bank has confirmed that the export income of $43.57 billion has come to the country. That means $11.99 billion of exports […]

Bangladesh’s export earnings declined for the second consecutive month in November amid the continued slowdown in readymade garment shipments, in another worrying development for the already strained economy. Receipts from the sector fell 6.05 percent year-on-year to $4.78 billion last month, shows data of the Export Promotion Bureau (EPB) yesterday. The shipment dropped 13.64 percent

Bangladesh’s textile sector needs adequate funds, technology and policy support to ensure a circular economy, which will be a major requirement to export products to western countries in upcoming years, experts said yesterday. A circular economy is a system where materials never become waste and nature is regenerated. In a circular economy, products and materials

RMG manufacturers and labour leaders have said the recent US sanctions announcement was likely a political move and businesses do not need to worry. They were speaking during a seminar titled “Current Labour Issues and International Trade Scenario,” organized by the Economic Reporters Forum (ERF) – an association of the nation’s business and economic journalists

The ongoing political crisis, foreign powers’ interest in the upcoming national election, and labour and human rights issues are deepening the economic uncertainty in the country, the Policy Research Institute (PRI) of Bangladesh said yesterday. “Apart from economic challenges, there are non-economic challenges for the government. These may significantly impact the economic outcomes,” PRI Executive

Despite a sharp decline in the poverty rate since 2000, the income inequality is widening fast in the country, creating ‘two societies in a society’ having an opposite picture, eminent economist Dr Binayak Sen said Tuesday. “We don’t have a common health and education for all. Rich people send their children to English medium schools

Bangladesh surpassed China in knitwear exports to the European Union during the first nine months of this year. The country shipped knit items worth 8.31 billion Euro during the January-September period, slightly higher than its main competitor China that shipped the same category of items worth 8.27 billion Euro, according to Eurostat data. Local woven

Bangladesh’s current account surplus saw a substantial decline in October, plummeting to only $233 million, a reduction of four-fifths from the previous month. This sharp decrease is attributed to a surge in imports, sluggish export growth, and a negative trend in remittances, according to the Bangladesh Bank. In September, the country had boasted a more

Bangladesh may import a lower volume of cotton in the current marketing year of 2023-24 owing to a fall in orders from buyers for garments and difficulties in opening letters of credit for declining foreign exchange reserves. The country, which relies on external markets for more than 98 percent of its cotton, is likely to

Pressure on the foreign exchange reserves remains high as the deficit in the financial account continues to widen despite the narrowing trade gap and a current account surplus. At the end of October, the deficit in the financial account stood at $3.96 billion, in contrast to $1.27 billion a year earlier, as per the latest