• Tuesday, March 31, 2020

Exports rise 6.4 percent in first nine months of FY 2017-18

Discussion in 'Bangladesh Defence Forum' started by bluesky, Apr 4, 2018.

  1. bluesky

    bluesky ELITE MEMBER

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    Exports rise 6.4 percent in first nine months of FY 2017-18
    Abdur Rahim Harmachi, bdnews24.com

    Published: 2018-04-03 20:44:21.0 BdST Updated: 2018-04-03 20:44:21.0 BdST


    • [​IMG]
    Bangladesh’s export earnings have jumped 6.4 percent during the first nine months of this fiscal year, compared with the same period a year ago, on the back of RMG export surge.

    The export earnings from July through March in FY 2017-18 clocked $27.5 billion, which was about $26 billion in the corresponding period of last fiscal year, according to Export Promotion Bureau latest data released on Tuesday.

    However, export earnings in those nine months are marginally short of the $27.6 billion target.

    During the period, clothing export went up 9.2 percent to $22.9 billion from $21 billion of the last fiscal. The knitwear and woven garments, the two largest export earners, registered 11.7 percent to over $10 billion and 6.8 percent to more than $10.8 billion growth, respectively, in the same period.

    Finance Minister AMA Muhith told bdnews24.com demand for apparel products in the USA and EU countries has increased, thereby positively impacting the RMG export growth. “With the global economy recovering, the demand for our products has increased.”

    During the period, export of agriculture products registered a 15.46 percent growth, followed by jute and jute goods at 11.2 percent and frozen foods 6.6 percent.
     
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  2. Mage

    Mage SENIOR MEMBER

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    Not good enough.......need like 10-12% growth yearly..
     
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  3. Nilgiri

    Nilgiri ELITE MEMBER

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    But I thought the massive Chinese capital goods "relocation" was supposed to kick in by now according to the BD STRONK fellas like @Bilal9 cpl years ago.

    It seems China is not willing to relinquish its RMG export level to BD at the rate projected by like a country mile....even when it does start, doubt it will be to BD only.

    These are sobering realities when you have not diversified your exports at all and are hoping for some hail mary.
     
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  4. UKBengali

    UKBengali ELITE MEMBER

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    Please see link below of Chinese intentions:

    https://defence.pk/pdf/threads/drag...p-industrial-zone-in-bangladesh.551953/unread

    Now cry.:cry:

    6.4% export growth is ok but not as good as BD would like of course.
    Remember that last year BD grew over 7.2% with less than 2% export growth. BD has large amounts of growth from internal and foreign investments in factories, construction and infrastructure. Exports are not the only engines of growth dude.
     
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  5. Nilgiri

    Nilgiri ELITE MEMBER

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    OK, Mr. Will.....the same old boring stuff.

    Yep GDDS level claims are STRONK.

    I only care now about BD external results (exports would be one given another country is involved...investment is another), not what gets laundered in a bottom of the barrel corrupt craphole....till that craphole stops being a craphole in at least base credibility. A graduation to SDDS for example....or even a simple acceptance of an ESCAP assessment.
     
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  6. Homo Sapiens

    Homo Sapiens SENIOR MEMBER

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    Bangladesh inflation eases in March
    http://www.xinhuanet.com/english/2018-04/04/c_137087983.htm

    Source: Xinhua 2018-04-04 15:25:53
    DHAKA, April 4 (Xinhua) -- Bangladesh inflation decreased to 5.68 percent in March from 5.72 percent in February.


    But last month's inflation was higher than the same month a year ago as it was 5.39 percent.

    Bangladeshi Planning Minister AHM Mustafa Kamal has released the January-March inflation data prepared by Bangladesh Bureau of Statistics (BBS), leading English newspaper The Daily Star reported on Tuesday.

    Inflation rose to 5.76 percent in January-March.

    According to the Consumer Price Index (CPI) of the Bangladesh Bureau of Statistics (BBS), rural inflation was 5.72 percent in January-March, which was 5.08 percent in the same period last year.

    In urban areas, inflation increased to 5.83 percent in the third quarter from 5.65 percent of last year's first quarter.

    Prices of clothes, fuel, furniture and home appliances, medical services, transport and educational items and house rent rose in January-March, according to a statement of the BBS.
     
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  7. mb444

    mb444 SENIOR MEMBER

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    If infrastructure projects materialises then double digit growth maybe a reality in the medium term.
     
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  8. Mage

    Mage SENIOR MEMBER

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    Why would they do it? It's not like Average Chinese are super rich.
    It will be BD, Vietnam and Maybe Philippine, Pakistan, India and some African country....BD and Vietnam would be the major beneficiary I think when they start doing it. But thats one or maybe two decades away.
     
  9. Nilgiri

    Nilgiri ELITE MEMBER

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    Right, just reality check for some of the BD STONK folks projecting its already a foregone conclusion today.

    Actually India is gearing up a huge amount of labour reforms right now and massive incentives to the industry to scale up. It will be a competitive industry for quite some time (China for example for a good chunk of years will not relenquish that which is more capex inclined anyway, the labour sensitive jobs will possibly get eroded too as even more automation and process control gets introduced feasibly), BD should not rest on its LDC quota laurels....and should definitely not hedge all in for RMG....the window is closing on lot of these heritage industries to need labour in first place...thus BD should diversify right now but its not doing so even at the level it can sustain (because that requires much bureaucratic reforms and govt minimalist philosophy).
     
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  10. UKBengali

    UKBengali ELITE MEMBER

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    Have you totally missed the Special Economic Zones that are being set up in BD as we speak? 100 in total by 2030.

    I think that sustained double-digit growth like what Japan managed in the 1960s or China from 1980-2010 will not be possible for BD unless it enacted major political reforms. 8-9% a year average next decade is certainly possible and likely in my opinion.
     
  11. Nilgiri

    Nilgiri ELITE MEMBER

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    Mr Will.... :P