Arab Today, arab today bangladesh’s annual exports rise to 243b
Last Updated : GMT 14:02:48
Arab Today, arab today
Arab Today, arab today

Bangladesh’s annual exports rise to $24.3b

Arab Today, arab today

Arab Today, arab today Bangladesh’s annual exports rise to $24.3b

Dhaka - Arabstoday

Bangladesh’s exports rose 5.9 per cent to $24.3 billion in the financial year to June, falling short of a government target as demand for garments from key Western markets waned, the country’s trade promotion body said. Total fell nearly 8.4 per cent short of a target of $26.5 billion originally set on hopes for solid garment shipments to Europe and the United States, which account for almost 70 per cent of sales. Readymade garment sales for the fiscal year rose 6.56 per cent from a year ago to $19 billion. “Our growth was still good considering the weakening global economy, which cut demand sharply,” said Shubhashish Bose, head of the Export Promotion Bureau. For the new fiscal year starting July 1, the government expects exports to reach $28 billion as it seeks to diversify into new markets such as Japan, China, India, Russia, Brazil and South Africa. Bangladesh’s economy and exports have been boosted recently by a dramatic shift in global garment orders from China to lower-cost Bangladesh. Bangladesh’s low labour costs have helped it join the global supply chain for low-end clothing, manufacturing garments for international brands such as Tesco, JC Penney, Wal-Mart, H&M, Kohl’s, Marks & Spencer and Carrefour. Garment export is one of economy’s most important drivers, along with remittances, money transferred home, from Bangladeshis working overseas. Business leaders said Bangladesh needs to shift its focus eastwards to countries such as China, Japan and Malaysia to compensate for slack demand from key western markets. “We should make strong efforts to increase our exports to those countries to grab a share of huge markets,” said Syed Nurul Islam, president of the Bangladesh-Malaysia Chamber of Commerce and Industry. To promote Bangladeshi products in Malaysia, Showcase Bangladesh 2012 will be held between July 13 and July 15 in Kuala Lumpur, he said. Annual exports could reach $30 billion over the next two years if infrastructural bottlenecks including gas and electricity shortages can be resolved, he added. Other factors such as frequent labour unrest over pay and a volatile political situation could also hurt the impoverished country’s export growth. Meanwhile, tea prices in Bangladesh fell for the third session at a weekly auction on Tuesday after rising more than 15 per cent in the previous five sessions, as demand weakened ahead of the Muslim fasting month Ramadan. The average price of Bangladeshi tea was 190.56 taka ($2.3) a kg against 204.58 taka per kg at the previous sale a week ago, said an official at National Brokers Limited, the country’s largest tea broking firm. From gulftoday

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bangladesh’s annual exports rise to 243b Arab Today, arab today bangladesh’s annual exports rise to 243b

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bangladesh’s annual exports rise to 243b Arab Today, arab today bangladesh’s annual exports rise to 243b

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday