• Wednesday, January 29, 2020

Bangladesh export to exceed $60 billion by 2021: Tofail

Discussion in 'Central & South Asia' started by Homo Sapiens, Nov 2, 2016.

  1. Homo Sapiens

    Homo Sapiens SENIOR MEMBER

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    09:16 PM, October 29, 2016 / LAST MODIFIED: 09:20 PM, October 29, 2016
    Bangladesh export to exceed $60 billion by 2021: Tofail



    Commerce Minister Tofail Ahmed today expected Bangladesh to fetch over US$60 billion by 2021 from exports while the amount was over US$34 billion in the last year.

    "Bangladesh earned over $34 billion from export in the last fiscal year, registering around 10 percent growth from the year before and by 2021 the figure would be more than $60 billion," he said.

    Ahmed said the country is now moving forward under the visionary leadership of Prime Minister Sheikh Hasina.

    He made the comments while speaking as the chief guest at triennial conference of district Awami Jubo League (AJL) at the Government School the premises of the town.

    AJL convener and Mayor of Bhola M Moniruzzaman presided over the programme while AJL Chairman Omar Faruk also spoke, among others.
     
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  2. Hephaestus

    Hephaestus FULL MEMBER

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    Good going.
    B'desh economy will soon surpass Pak.
     
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  3. my2cents

    my2cents SENIOR MEMBER

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    exporting what???
     
  4. bluesky

    bluesky ELITE MEMBER

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    Pakistan will certainly do better if and when the fundamentalist Talebans are down and there is little turf war inside that country.
     
    Last edited: Nov 2, 2016
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  5. Surya 1

    Surya 1 BANNED

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    Good luck to BD.

    All our best wishes.
     
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  6. bluesky

    bluesky ELITE MEMBER

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    $60 billion export projection in 2021 is too far away, although I believe it is achievable.
     
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  7. Surya 1

    Surya 1 BANNED

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    With Focus, everything is possible.
     
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  8. Mage

    Mage SENIOR MEMBER

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    The Govt expects RMG exports to be even higher.
    They expect 5Bn leather export by 2021 (Which is around 1Bn right now)
    And 5Bn ICT export by 2021(Which is also around 1Bn now)
    Maybe some increase in fishers and other stuff too.

    Our export increased from 17Bn(in 2009) to 33.4Bn in 2016. If things are done right than 60Bn export doesn't seem impossible. Seems optimistic though. But than again you wouldn't want your commerce minister to be a pessimist.
     
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  9. Hephaestus

    Hephaestus FULL MEMBER

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    That's a big IF. But, yes they might.
     
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  10. damiendehorn

    damiendehorn SENIOR MEMBER

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    Exports were $34.24bn 2015/16 year ending June 2016....
    Target for 2016/17 is $37bn.....
    Target for 2017/18 would be around $40bn - $41bn.
    Target for 2018/19 should be in the region of $45bn.
    Target for 2019/20 should be $52bn as this and the following years a lot of the major infra projects will come online it should help industrial growth and exports.

    So taking the trajectory into account its resonable to assume a export level of at least $60bn by 2020/21, in-fact the minister may even be rather conservative only time will tell.
     
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  11. TopCat

    TopCat ELITE MEMBER

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    Not the commodity for sure.. ;)
     
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  12. sbmc27

    sbmc27 FULL MEMBER

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    Agreed.
    It seems you are conservative too.
    Growth trajectory regarding conventional export items is $60B. In the mean time there are a number of nonconventional export items are emerging, like leather & footwear(5B), ICT(5B),pharma(1B),ship building(2B) etc.
    I think export earning can easily fetch 65- 70 B.
    Hope for the best...
     
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  13. bluesky

    bluesky ELITE MEMBER

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    BD population is 160 million and its FY2016 export was US$34.2 billion. On the other hand the population of our neighboring country, India, is 1300 million and its 2016 export was US$270 billion. BD per capita export is US$213, whereas Indian per capita export is US$207.69. It seems our export per capita has already surpassed that of India. It will keep on going up, no doubt.
     
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  14. bd_4_ever

    bd_4_ever SENIOR MEMBER

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    Great stuff. But is it necessary to pull in India here, only to attract trolls and spoil a potential thread like all others?
     
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  15. Cyberian

    Cyberian BANNED

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    It could be higher if the current rate of growth picks up momentum.
     
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