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Export earnings cross $50b riding on RMG

ghost250

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

An anonymous source at EPB confirmed readymade garments worth around $3.20 billion have been exported in 25 days of the current month, ensuring the threshold was crossed even before final numbers are in, as reported in some sections of the media on Tuesday morning.


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.
 

bluesky

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

An anonymous source at EPB confirmed readymade garments worth around $3.20 billion have been exported in 25 days of the current month, ensuring the threshold was crossed even before final numbers are in, as reported in some sections of the media on Tuesday morning.


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.
Great!!! Indian @Protest_again was shouting that BD will be begging India for money to do maintenance works for the Padma bridge and the bridge will collapse in no time.

Now, he can see BD will shortly extend a few billion dollars worth of sympathy loan to India. We have already crossed the $50 billion export target although the Indian govt bars our goods entering that hinterland without toilets.
 

Protest_again

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Great!!! Indian @Protest_again was shouting that BD will be begging India for money to do maintenance works for the Padma bridge and the bridge will collapse in no time.

Now, he can see BD will shortly extend a few billion dollars worth of sympathy loan to India. We have already crossed the $50 billion export target although the Indian govt bars our goods entering that hinterland without toilets.
Lol. World over the exports have grown. India went from $480 billion to $670 billion ($190 billion jump In a year). Lungi land went from $50 billion to $58 billion (a jump of $8 billion). Only Jokers make big deal of this modest raise in exports when world is experiencing commodities inflation. Also Bangos never show their imports figures just to hide their embarrassment. GoB is even resorting to borrowing from IMF to cover Budget deficit. That's the state of that stupid economy.

And don't put words in my mouth. I never said India will do maintenance or bridge will collapse. INDIAN trade will be only resort for you to recoup the investment was my assertion.

And regarding extending loan to India. LOL. INDIA'S tax collection jump last fiscal ($90 billion jump) is twice your total annual budget expenditure. READ UP and understand your aukat.
 
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PadmaBridge

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Lol. World over the exports have grown. India went from $480 billion to $670 billion ($190 billion jump In a year). Lungi land went from $50 billion to $58 billion (a jump of $8 billion). Only Jokers make big deal of this modest raise in exports when world is experiencing commodities inflation. Also Bangos never show their imports figures just to hide their embarrassment. GoB is even resorting to borrowing from IMF to cover Budget deficit. That's the state of that stupid economy.

And don't put words in my mouth. I never said India will do maintenance or bridge will collapse. INDIAN trade will be only resort for you to recoup the investment was my assertion.

And regarding extending loan to India. LOL. INDIA'S tax collection jump last fiscal ($90 billion jump) is twice your total annual budget expenditure. READ UP and understand your aukat.

Significant part of that export is refined oil.

Where your value add is???


Money in the pocket of the Ambani guy for his subservience to the Arabs.

BUT NO JOBS FOR TOILET-LESS HINDUS.
 

Protest_again

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PadmaBridge

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Lol. Stitch chaddis na. You call that employment?

You low caste Indians are especially paranoid about factory work - lest people find out your caste.

Hindus apply in their millions for lowly government pion jobs for that reason.

Washington Post did a feature on this last year.

About how Indians see “office jobs” as a way to escape their caste inferiorities.

And how thousands commit suicide when they don’t get the pion jobs.
 

Protest_again

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So, you think the Chief Executive is the only job. BD has created millions of textile jobs, so feel free to create a million executive jobs and tell it to the world.
Lol. Your textile industry caters to miniscule domestic market and exports about $40 billion to the world.

INDIA has 223 billion worth domestic textile market and exports $40 billion worth of textiles and apparel.


Our local companies caters to much higher business than dumb lungiland. Hence we have many more people working than you. Also Indians do take executive positions where ever because they have the capabilities to be so.


PS: Even lungis come to our side to do the apparel shopping. Lol.
 
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SMX 3.0

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Significant part of that export is refined oil.

Where your value add is???

Refined oil exports are at some $30 billion, that's some 4.5% of India's total exports. Reliance btw earns a Gross Refining Margin of $12 per barrel.

This isn't some primitive pre-1971 refinery like the ones you have in Bangladesh. This is a refinery with one of the highest Nelson complexity index anywhere, one that has its own place in the global supply chain.

India's engineering exports are around ~$110 billion. Pharma exports are at $25 billion whereas services exports (including IT) account for a shopping $250 billion. Textile exports at $45 billion.

Can't expect someone from an LDC- for which exporting textiles on GSP quota is a huge achievement- to comprehend this though.

TOILET-LESS

Err... What? :lol:

 

Bilal9

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Even lungis come to our side to do the apparel shopping. Lol.

Bangladeshis buy Indian cheap ethnic wear for shaadis or special occasions,

Only because Indian stuff is cheap.

Rest of it Bangladesh makes and sells. Casualwear, mens and womens wear.

67433275.jpg


Most of the Indian retail outlets carry Bangladeshi mens' shirts, they are higher quality compared to Indian stuff.
 

PadmaBridge

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Refined oil exports are at some $30 billion, that's some 4.5% of India's total exports. Reliance btw earns a Gross Refining Margin of $12 per barrel.

This isn't some primitive pre-1971 refinery like the ones you have in Bangladesh. This is a refinery with one of the highest Nelson complexity index anywhere, one that has its own place in the global supply chain.

India's engineering exports are around ~$110 billion. Pharma exports are at $25 billion whereas services exports (including IT) account for a shopping $250 billion. Textile exports at $45 billion.

Can't expect someone from an LDC- for which exporting textiles on GSP quota is a huge achievement- to comprehend this though.



Err... What? :lol:


So what happened during covid and why so many people relieving themselves in public?

Covid exposed the Hindu economy!
 

SMX 3.0

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So what happened during covid and why so many people relieving themselves in public?

Covid exposed the Hindu economy!

Stop spewing BS. Do you have data to back up your quite literal Brainfarts?

Slowly by slowly, inch by inch Bengal is regaining its former position as the powerhouse of the Subcontinent.

With $58 billion, mostly GSP quota driven RMG exports? :lol:
 

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