Bangladesh exports soar 55% to $3.15 billion in September

[bluesky]

Bangladesh exports soar 55% to $3.15 billion in September
Abdur Rahim Harmachi, Chief Economics Correspondent, bdnews24.com

Published: 2018-10-08 19:46:16.0 BdST Updated: 2018-10-08 19:46:16.0 BdST

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Bangladesh’s exports have made a robust growth in September, the third month of fiscal 2018-19.

Exports grew 54.64 percent year-on-year to $3.15 billion in September, riding on higher garment shipments, according to data released by the Export Promotion Bureau on Monday.

This is the best growth in a single month in Bangladesh's history.

The receipt is 14.47 percent higher than the monthly target of $2.75 billion.

From July through September, garments exports, the mainstay of the economy, grew 14.66 percent year-on-year to over $8.19 billion, accounting for 82.40 percent of the total earnings.

Of the garment products, knitwear exports rose 12.27 percent to $4.20 billion and woven garments exports surged 17.3 percent to almost $4 billion.

“The export earnings declined in September last year due to 10-day holiday in August on occasion of Eid-ul-Azha. But in September this year, all export activities including shipping were going on full swing. That’s why exports saw a big jump,” said Faruque Hassan, senior vice president of BGMEA.

Bangladesh fetched $9.94 billion from exports in the first three months of this fiscal year. The figure is 14.75 percent higher compared with the same period a year ago.

 

[Skull and Bones]

Congratulations, Bangladesh and Vietnam are among the top emerging markets in Asia to invest.

 

[SunilM]

WOW. Thats Brilliant.

 

[Zhukov]

Congratulations Bangladesh. But i would say this is time Bangladesh should start shifting to more productive and High output industries instead of these low end industries like textile and agriculture. Now that your Banks have Capital and your Government can afford to invest, Go for it, take the risks. Its very hard in recession times to shift your economy.
I would say electronics and equipment is the ideal start instead of software which requires lots of specialty which i don't think Bangladesh currently have.

 

[Ajaxpaul]

Congrats Bangladesh !!

 

[TopCat]

Congratulations Bangladesh. But i would say this is time Bangladesh should start shifting to more productive and High output industries instead of these low end industries like textile and agriculture. Now that your Banks have Capital and your Government can afford to invest, Go for it, take the risks. Its very hard in recession times to shift your economy.
I would say electronics and equipment is the ideal start instead of software which requires lots of specialty which i don't think Bangladesh currently have.

Government is building 100 SEZ and 48 high tech parks.
SEZ are for heavy industry and textiles and high tech parks are for electronics and softwares.
You will see the result in 5 years for sure.

 

[bluesky]

Government is building 100 SEZ and 48 high tech parks.
SEZ are for heavy industry and textiles and high tech parks are for electronics and softwares.
You will see the result in 5 years for sure.

People have been hearing of all these EPZ/SEZ and high Tech Parks since Pakistan time. When will these be completed, at the end of this century? Seems there is no exact target, planning, scheduling, and implementation of the projects.

In many cases, the authorities have put the carts before the horses. In many other cases they do some work here and then some work in others. It means there is little coordination of works, a symbol of the 3rd world country. So, every EPZ is delayed.

 

[TopCat]

People have been hearing of all these EPZ/SEZ and high Tech Parks since Pakistan time. When will these be completed, at the end of this century? Seems there is no exact target, planning, scheduling, and implementation of the projects.

In many cases, the authorities have put the carts before the horses. In many other cases they do some work here and then some work in others. It means there is little coordination of works, a symbol of the 3rd world country. So, every EPZ is delayed.

Dude 8 EPZ are up and running exporting more than 4 billion dollar worth of goods.
You need to get out of your home incubator to see. None of the high tech park came online remained vacant, not even the one in Jessore. Most of the floors are already occupied by Japs in Jessore. I never thought they will able to sell the floors in that premise at all.
I regularly fly to Saidpur and most of the flights carry whole bunch of foreigners and they all go to Uttara EPZ there. So I can tell you from my own experience and give you some hope.

 

[bluesky]

Most of the floors are already occupied by Japs in Jessore. I never thought they will able to sell the floors in that premise at all.

Japanese preferred Jessore only because it is quite near the Payra Sea Port. Jessore is under Japanese companies is a news to me.

 

[HariPrasad]

Cheers for Bangladesh.

 

[UKBengali]

Puts paid to those Indian and Pakistani trolls who say BD growth is fake.

They will need massive Burnol to soothe their sore behinds now.