Export earnings cross $50 billion in FY22

[Black_cats]

Export earnings cross $50 billion in FY22​

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Export earnings cross $50 billion in FY22

According to the EPB, the country earned $47.17 billion from exporting goods and services during the July-May period of the current fiscal (2021-22).

The source at EPB confirmed that readymade garments worth around $3.20 billion were exported in 25 days of the current month, reports UNB.

Bangladesh meanwhile became a member of the $50-billion export income club by exporting goods and services around $50.37 billion. The final export earnings will be released by EPB at the beginning of next month (July).

AHM Ahsan, vice-chairman of EPB, said exports usually fall slightly in May and June. Despite this, exports of goods will exceed $50 billion in the current financial year.

He said if service exports were added, it may cross $58 billion this year breaking all the previous records.

Despite global inflation and Russia-Ukraine war this trend of robust exports may continue till next October, said Ahsan.

The government was focusing on increasing export income from the beginning of fiscal year 2021-22. The ministry of commerce, Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have worked together to increase export volume of Bangladesh.

The government’s initiative to keep open garment industries, providing even the stimulus loans to pay the salary of workers, played an important role in getting a huge export order. After easing of Covid-19 pandemic restriction in the EU and USA, Bangladesh received huge export orders due to its ability to deliver products as per required schedule, the sector insiders said.

Bangladesh's exports had previously touched $40 billion in the 2018-19 fiscal. It then dipped down to $33.67 billion in 2019-20, as the coronavirus pandemic set in, before climbing back to $38.76 billion in 2020-21.

Alongside exports earnings though, import payments are also set to have a record breaking year, with the net effect of increasing the trade deficit in the country's balance of payments.

Export earnings cross $50 billion in FY22

The country's exports crossed $50 billion for the first time ever in the outgoing fiscal, thanks to a record year for the readymade garments sector, according to an anonymous source at Export Promotion Bureau (EPB). According to the EPB, the country earned $47.17 billion from exporting goods and...

thefinancialexpress.com.bd

 

[Bossman]

But BD will be the only country other than India where human power is still cheaper than animal power or machine power I.e. millions of human rickshaws. BD has a positive balance of payments because it does not want to import oil to replace human rickshaws with machine rickshaws.

 

[Wergeland]

BD has a positive balance of payments because it does not want to import oil to replace human rickshaws with machine rickshaws.

Not really.
Its because Bangladesh is relative small, mostly flat and densley populated country. Which makes Rickshaw be able to compete with motor cabs. There are btw probably hundreds of thousand electric rikshaws, if not millions. Yes, you heard right, most rickshaws and tuk tuk are run on battery these days.

Rickshaws are also faster transport in large cities because of the massive traffic jams where cars are stuck for hours, but rickshwas can navigate similar to a 2 wheeler.

 

[Abu Shaleh Rumi]

But BD will be the only country other than India where human power is still cheaper than animal power or machine power I.e. millions of human rickshaws. BD has a positive balance of payments because it does not want to import oil to replace human rickshaws with machine rickshaws.

Sir, we are at electric rickshaw age. Human pulled rickshaws are minority now...

 

[Baba_Yaga]

Rickshaws are also faster transport in large cities because of the massive traffic jams where cars are stuck for hours, but rickshwas can navigate similar to a 2 wheeler.

Actually Rickshaws and 2 wheelers are the biggest source of traffic jams, don't follow any lanes whatsoever, try to cut lines and squeeze anywhere in between, also drive on opposite side of the road and park anywhere they wish. Remove rikshaws and 2 wheelers from road, and you will have solved like 80% of traffic problems.

 

[Abu Shaleh Rumi]

Actually Rickshaws and 2 wheelers are the biggest source of traffic jams, don't follow any lanes whatsoever, try to cut lines and squeeze anywhere in between, also drive on opposite side of the road and park anywhere they wish. Remove rikshaws and 2 wheelers from road, and you will have solved like 80% of traffic problems.

Agreed. My city authority banned electric rickshaw without licenced driver for a week and there were no traffic jam or road accidents of any kind recorded in that period.

They removed the ban after receiving healthy bribe...

 

[SMX 3.0]

This POS Nilgiri Gadha is back with a new name SMX. Smelling up every thread with his bad-boo....

lol, I reacted to a hilarious post & that was more than enough to set fire to the rear of a Bongoland troll.

Your nation lacks even basic motorization, this is something well known. Don't make me post your energy consumption data here.

 

[Destranator]

But BD will be the only country other than India where human power is still cheaper than animal power or machine power I.e. millions of human rickshaws. BD has a positive balance of payments because it does not want to import oil to replace human rickshaws with machine rickshaws.

What kind of economic assessment is this.

 

[Homo Sapiens]

But BD will be the only country other than India where human power is still cheaper than animal power or machine power I.e. millions of human rickshaws. BD has a positive balance of payments because it does not want to import oil to replace human rickshaws with machine rickshaws.

Actually 90 percent Rickshaws now in Bangladesh are electric battery run. Human Bipadal rickshaws mostly found in the main roads of Dhaka and Chattogram city. All other cities, towns, villages as well as narrow roads of Dhaka and Chattogram, electric battery run rickshaw dominate. This is because of law enforcement, battery run rickshaws are still illegal and traffic police are more vigorous at suppressing those in the main roads of Dhaka, Chattogram. But traffic polices are more lax at enforcing that ban on relatively minor roads in Dhaka, Chattogram and other smaller cities and villages roads. Govt. only allow human bipadal rickshaws in the major roads of Dhaka. If govt. have not suppressed electric battery rickshaws in the major roads, then human bipadal rickshaws would have been totally extinct by now.

 

[Wood]

I often see Bangladeshi members randomly gripe about the second coming of an Indian member - Nilgiri. Not sure what was done by this member that people are still terrified. This must be some PDF legend. If the member should ever resurface and the handle reactivate, hell would break loose it seems

 

[Homo Sapiens]

These type of Electric battery run Rickshaws now dominate the Roads in Bangladesh.

 

[UKBengali]

I often see Bangladeshi members randomly crib about the second coming of an Indian member - Nilgiri. Not sure what was done by this member that people are still terrified. This must be some PDF legend. If the member should ever resurface and the handle reactivate, hell would break loose it seems

No-one is "terrified" but his spends all day trolling on BD-section.


His previous handle eventually got a permanent ban and so now "reincarnates" himself with new handles.

 

[SMX 3.0]

No-one is "terrified"

Yeah right, Mr. Walton Salesman.

No need to get terrified, I am not Nilgiri Or Himgiri Or Udaygiri or whatever.

 

[Bilal9]

I often see Bangladeshi members randomly crib about the second coming of an Indian member - Nilgiri. Not sure what was done by this member that people are still terrified. This must be some PDF legend. If the member should ever resurface and the handle reactivate, hell would break loose it seems

People are not terrified, they express disgust. The same way people avoid a rabid, mangy animal.

What kind of economic assessment is this.

Pabna Hemayetpurey onar jonno ekta seat boraddo aasey - nie jawa uchit.

 

[SMX 3.0]

People are not terrified, they express disgust.

Like how people react to the existence of Bangladeshi maids in India?