Bhomra land port in Satkhira has posted impressive revenue of Tk 16.24 crore from the export of various products to India in the first half of fiscal year 2024-25, according to the National Board of Revenue (NBR). The increasing exports through this land port have significantly contributed to the country's foreign exchange earnings, as revealed by an analysis of comparative data collected from the port's entry section. Sources said a total of 23 types of local products are currently being exported to India through the port. The products include yarn, waste, cleaning cloth, caps, jute yarn, polyester staple fiber, mustard oil, furniture, mosquito nets, polyester thread, fish nets, plastic bathroom fittings, handloom saris, lungis, clay products, unrefined sesame oil, cotton waste, travel bags, soy acid oil, readymade garments, toasts, juices, chips and lychees. In July 2024, the port earned Tk 2.34 crore, Tk 2.63 crore in August, Tk 2.77 crore in September, Tk 2.43 crore in October, Tk 3.15 crore in November and Tk 2.96 crore in December, totalling Tk 16.24 crore. Read: Sheola land port fails to meet revenue target Abu Musa, general secretary of the land port C&F Agents Association, said Bangladesh is benefiting from export opportunities, similar to other developing countries. He also said traders are increasingly opting for this port, resulting in a rise in both imports and exports, thereby boosting government revenue due to the proximity of the land port to Kolkata. Abul Kalam Azad, deputy commissioner of the land port, confirmed that the export trade with India has increased recently through the land port, resulting in bagging Tk 16.24 crore from the first half of the current fiscal year. Read more: Trade with India through 3 land ports suspended, uninterrupted at Benapole He said that the port has witnessed an export growth rate of 18.95% compared to other land ports in the country.

Chief Adviser Prof Muhammad Yunus on Wednesday urged the country’s business community and entrepreneurs to come forward to strengthen its export base with more investment in the services sector to boost overall exports to the competitive global market. “We need to enhance our exports. I urge all businesspeople to come forward to invest more in the services sector in addition to products to boost our exports,” he said while inaugurating the 29th Dhaka International Trade Fair (DITF)-2025 at the Bangladesh-China Friendship Exhibition Centre at Purbachal. Highlighting the importance of entrepreneurs’ role, Dr Yunus said developing an exportable product is important but it is more important to know who developed the product. The Chief Adviser said every year there is an initiative to announce a “Product of the Year” and this year furniture product is the product of the year. In addition to this process, Dr Yunus said, he wants to introduce “Entrepreneur of the Year” to let everyone know who is behind the product. The Chief Adviser highlighted the government’s initiative to promote Bangladesh’s products in the global market with its diversified presence. He said Bangladesh’s readymade garment (RMG) has already secured a leading position in the global apparel market. Read: Month-long Dhaka International Trade Fair to open Wednesday Dr Yunus said the export trade is playing a significant role in cutting poverty and unemployment in addition to earning foreign currencies. “It’s playing an important role in strengthening Bangladesh’s economy.” He formally inaugurated the month-long fair.  Commerce Adviser Sk Bashir Uddin was, among others, present. Like the previous years, the Ministry of Commerce and the Export Promotion Bureau (EPB) have jointly organised the fair. The spaces for stalls or pavilions of various categories have been allocated online for the first time in this trade fair. The e-ticketing system has also been arranged for the first time in the fair. Apart from this, BRTC's dedicated bus service would be available alongside Uber service at a special discount to facilitate the travel of buyers and visitors to and from the fair venue. Besides, "July Chattar" and "Chhatrish Chattar" were created at the fair venue in honor of the sacrifices of students in the anti-discrimination students' movement. A Youth Pavilion has also been set up to encourage the youth folk of the country in export trade. Initiatives have been taken this year to organize potential sector/product wise seminars at the fair. There will be separate sourcing corners, electronics and furniture zones for the convenience of foreign entrepreneurs and participants. Technology corner has been installed for the convenience of the age-based visitors while seating corner will be there for senior citizens. Read more: Dhaka Int’l trade fair begins Sunday There is also a children's park in the fair for ensuring pure entertainment. The trade fair is being held for the fourth time in a row at the Bangladesh-China Friendship Exhibition Center in Purbachal. According to the layout plan of the fair, some 361 pavilions/stalls/restaurants of different categories have been allocated in favor of local producing and exporters firms, general business establishments and foreign business entities in a cent percent transparent manner.

Bangladesh exported goods worth US $4.12 billion in November of the current fiscal year 2024-25, marking a growth of 15.63 percent year-on-year. The Export Promotion Bureau (EPB) released the information at a press conference held at the EPB conference hall on Wednesday. According to the EPB’s provisional data, Bangladesh's exports amounted to $19.9 billion over the five months from July to November in FY 2024-25, reflecting a growth of 11.76 percent compared to the same period of the previous fiscal year 2023-24. Bangladesh’s export earnings rebound from slump Among the export earnings, the agricultural sector saw a positive growth of 15.82 percent, while the manufacturing sector grew by 15.6 percent. Home textile exports surged by 20.74 percent, and exports of animal origin products (guts, bladders and stomachs) witnessed the highest growth, rising by 125.93 percent. But, leather and leather products exports experienced a slight decline of 0.35 percent among the major export categories. BB announces 10% incentive for exporting agro-processed products Speaking at the press conference, EPB Executive Chairman Anwar Hossain highlighted the resilience of the export sector. "Despite several challenges, the export sector achieved a growth of 15.63 percent in November and 11.62 percent in the July-November period. This indicates that the export sector has rebounded sharply," he said.  

The European Union's apparel imports saw a 3.63% decline from January to August 2024 compared to the same period in 2023, reflecting a broader global trend of reduced apparel consumption. According to the latest data, total imports dropped from US$ 61.56 billion to US$ 59.32 billion. Bangladesh, one of the leading apparel suppliers to the EU, experienced a 3.53% decrease in exports, with the value of shipments falling to US$ 12.91 billion during this period, according to former BGMEA Director Mohiuddin Rubel. Chinese Textile & Apparel Industry delegation visits BEPZA This decline mirrors the overall drop in EU apparel demand but raises questions about shifting dynamics in global supply chains. China, the largest exporter to the EU, saw its apparel imports decrease by 4.10% to US$ 15.62 billion. Other key suppliers like Turkey and India also faced declines, with Turkey’s exports down by 7.52% to US$ 6.84 billion and India’s down by 2.73% to US$ 3.34 billion. Vietnam reported a 2.09% decrease, with exports totaling US$ 2.65 billion. USITC delegation meets BGMEA leaders, discuss Bangladesh's standing and competitiveness in global apparel market In contrast, some countries bucked the downward trend. Cambodia's exports to the EU surged by 12.78%, Pakistan saw a 7.3% increase, and Morocco experienced a 6.09% rise, signaling a potential shift in sourcing preferences within the global apparel market. These variations among key suppliers suggest nuanced changes in global apparel supply chains.

Bangladesh's export earnings in September increased by 6.78 percent despite workers’ unrest in garment sector.  According to the Export Promotion Bureau (EPB) Bangladesh's export earnings in September reached US $3.51 billion, a $220 million jump compared to the same period last year. EPB Vice Chairman Anwar Hossain said this at a press conference on monthly export earnings review at his office on Wednesday. He said they prepared the data based on real time shipments data as per NBR Asycuda world. Advisory Council approves draft 'Export Policy 2024-27' He said, "from now on we will come up with a detailed analysis of the export earnings every month." According to EPB data, in the first quarter - July to September- of the ongoing fiscal year, Bangladesh's export's earnings grew by 5.04 percent to reach $11.37, up from $10.82 billion in the same period of FY24.

For the first time, a consignment of bean produced in Chattogram’s Sitakunda upazila has been exported to Italy, raising hope among farmers of the upazila which is already famous for vegetable production. Farmers and agriculture officials said Sitakunda upazila is known for production of variety of vegetables including beans. Beans are seen on vast lands on both sides of the Dhaka-Chittagong highway, on cropland, land alley, on both sides of the railway tracks, fallow land, embankments and even in hill slopes, they said. Read more: Prospects of Safe Broiler Chicken Farming The beans produced here are usually supplied to different parts of the country and this is the first time that this bean has been exported to Italy. Farmers said that although raw beans are sold in winter, dry bean seeds are sold throughout the year. Upazila Agriculture Officer said Md Habibullah said the soil of Sitakunda is suitable for bean cultivation and bean cultivation is more profitable than Boro paddy. “As a result, bean has been cultivated on 2,650 hectares of land in this upazila. This year, 47,000 metric tons of beans worth over Tk 100 crore will be produced.” Read more: Youth's success in orange farming sparks an agricultural trend in Kurigram

Bangladesh’s export earnings increased by 3.8 percent year-on-year to USD $4.78 billion in August, compared to the previous fiscal year (FY2022-23). The Export Promotion Bureau (EPB) published this information on Monday (September 04, 2023), which shows that the garment sector is the major contributor to the overall export earnings. The sector insider shows it as good news amidst falling inward remittances in August. Also read: RMG exports for July-August this year grow by 12.46% As a percentage, compared to 2022, export income increased by 3.8 percent in August 2023. However, the government's target was not met. The government's export revenue target for that month was over $4.87. According to EPB data, 26 types of products including garments, medicine, and leather were exported to the world market in the month of August of the current financial year 2023-24. From there, $4.78 crore has been earned in August. Also read: RMG exports: Bangladesh earned $3.95 billion in July, says BGMEA During the same period of the financial year 2022-23, the export revenue was $4.6 billion. Accordingly, compared to last year, the income has increased by $17.51 crore, which has increased by 3.8 percent. Also read: Bangladesh's RMG export to USA grows 6.31% in FY 2023-24 

Prime Minister Sheikh Hasina has sought assistance from the International Fund of Agricultural Development (IFAD) to boost the production of wheat and edible oil in Bangladesh  to reduce its export dependency for the two items. The assistance was sought when IFAD President Alvaro Lario met her at the FAO headquarters,  Foreign Minister AK Abdul Momen told reporters after the meeting on Monday (July 24, 2023). Read: Bangladesh signs agreement with WFP to expand school feeding programme Hasina also asked the IFAD to help Bangladeshi small agro-enterprises in marketing their goods and help the country build an efficient food storage system. Also on Monday the prime minister asked the World Food Programme (WFP) to raise funds for Bangladesh particularly displaced Rohingyas who took shelter in Bangladesh as per capita fund for Rohingya declined to US$ 8 from US$ 12. She made the call when WFP Executive Director Cindy Hensley McCain met her at the FAO Headquarters on Monday. Hasina said Bangladesh has successfully raised food production thanks to her government's taking various steps in this field. Read: PM Hasina offers Nepal use of Payra port during meeting with Nepalese counterpart in Rome Bangladesh is in a good position in producing not only crops but also fish and other foods, she said. Cindy Hensley McCain is the wife of former US presidential candidate John McCain who adopted a three-month Bangladeshi girl in the early 1990s.  Meanwhile, the prime minister along with other heads of government and states attended a reception hosted by Director General of Food and Agriculture Organization Qu Dongyu at the FAO headquarters.

The higher estimate of 6% for FY 2023 (ending on June 30, 2023) reflects strong net exports as imports fell more sharply than expected and export growth slowed less than expected, says the Asian Development Bank (ADB). On the supply side, manufacturing firms of all sizes leveraged supportive government policies to contribute to growth. Crop losses to floods, cyclones, and droughts were partly offset by subsidies, incentives, and other measures. The service sector was buoyed by higher warehouse and support activities and health and social services. Enhancing growth, promoting prosperity: BIMSTEC retreat held in Bangkok On the demand side, growth in public consumption outpaced expectations, as did public investment. The ADO April 2023 forecast for growth in FY 2024 is unchanged at 6.5%. The Asian Development Bank (ADB) is maintaining its growth outlook for developing economies in Asia and the Pacific at 4.8% this year, as robust domestic demand continues to support the region’s recovery. Inflation is expected to continue falling, approaching pre-pandemic levels as fuel and food prices decline, according to the Asian Development Outlook (ADO) July 2023, released on Wednesday (July 19, 2023). Bangladesh sets $72 billion export target with 11.52% growth for FY 2023-24 Inflation in developing Asia is forecasted at 3.6% this year, compared with an April forecast of 4.2%. The inflation outlook for 2024, meanwhile, is raised to 3.4% from an earlier estimate of 3.3%. The reopening of the People’s Republic of China (PRC) is bolstering the region’s growth. The PRC’s economy is projected to expand 5.0% this year, unchanged from the April forecast, amid strong domestic demand in the services sector. However, demand for developing Asia’s exports of electronics and other manufactured goods is slowing, as monetary tightening drags on economic activity in major advanced economies. The region’s growth forecast for next year is marginally revised down to 4.7% from a 4.8% estimate in April. Despite over 8% revenue collection growth, Tk 44000 crore shortfall in FY 2022-23 “Asia and the Pacific continues to recover from the pandemic at a steady pace,” said ADB Chief Economist Albert Park. “Domestic demand and services activity are driving growth, while many economies are also benefiting from a strong recovery in tourism. However, industrial activity and exports remain weak, and the outlook for global growth and demand next year has worsened.”

Bangladesh's Ministry of Commerce has set an export target of $72 billion with 11.52 percent growth for the fiscal year 2023-24. Export target for goods has been set at $62 billion while for the service sector, the target was set at $10 billion. Export target achieved in FY 2022-23 was $64.55 billion, which saw a growth of 5.88 percent. RMG exports to EU grew 9.93% in FY 2022-23: Export Promotion Bureau Goods worth $55.55 billion and services worth $9 billion were exported in FY 2022-23, and the growth were 6.67 percent and 1.25 percent respectively. Commerce Minister Tipu Munshi today (July 12, 2023) made the announcement of the export target and achievements in the previous fiscal in a press conference at the ministry. Prior to the announcement, the minister met with leaders of different business organizations and ministry officials. RMG exports in FY23 almost $47bn, 85% of total exports Business leaders at the meeting urged the government to ensure uninterrupted gas and electricity supply to industries at affordable rates. Otherwise, exports would be negatively impacted, they told the minister. While announcing the new export target, Commerce Minister Tipu Munshi said the global economic slowdown has been considered when setting the new target. Gas and power crises have also been considered while setting the target, the minister said. Exports raked in $55.56bn in FY23, highest in history While replying to a query, the minister said Bangladesh has some advantages including trained labour force, and affordable cost of products. Besides, global entrepreneurs are relocating industries from China due to geo-political reasons, and Vietnam has a labour crisis, the minister said. If Bangladesh can utilize these opportunities, exports can go beyond the target, the commerce minister said. Dollar exchange rate for repatriated export income increased to Tk107.5