Bangladesh’s export earnings increase by 51.18pc in April

[UKBengali]

BD is on target for around 52-54 billion US dollars in export earnings this fiscal.

Unfortunately no sign so far this year of percentage of garment exports reducing as percentage of total exports, as both garments and all exports has grown by 35-36% over same first 10 month period this year and last.

Bangladesh exports rise by 35.14pc in July-April

Bangladesh’s export earnings in July-April of the current financial year 2021-22 stood at $43.34 billion with a 35.14-per cent growth compared with that of $32.07 billion in the same period of FY 2020-21, according to the Export Promotion Bureau data...

www.newagebd.net

"Bangladesh's export earnings in April this year have increased by 51.18 per cent to $4.73billion from $3.13 billion than that in the same month of the past year, riding on the increased shipment of the readymade garment products.

The country’s export earnings in July-April of the current financial year 2021-22 grew by 35.14 per cent to $43.34 billion from $32.07 billion in the same period of FY 21, according to the Export Promotion Bureau data released on Monday.

The earnings from the RMG sector in the first 10 months of the FY 22 has increased by 35.98 per cent to $35.36 billion from $26.00 billion in the same period of FY21, the data showed."

 

[mb444]

BD is on target for around 52-54 billion US dollars in export earnings this fiscal.

Unfortunately no sign so far this year of percentage of garment exports reducing as percentage of total exports, as both garments and all exports has grown by 35-36% over same first 10 month period this year and last.

Bangladesh exports rise by 35.14pc in July-April

Bangladesh’s export earnings in July-April of the current financial year 2021-22 stood at $43.34 billion with a 35.14-per cent growth compared with that of $32.07 billion in the same period of FY 2020-21, according to the Export Promotion Bureau data...

www.newagebd.net

"Bangladesh's export earnings in April this year have increased by 51.18 per cent to $4.73billion from $3.13 billion than that in the same month of the past year, riding on the increased shipment of the readymade garment products.

The country’s export earnings in July-April of the current financial year 2021-22 grew by 35.14 per cent to $43.34 billion from $32.07 billion in the same period of FY 21, according to the Export Promotion Bureau data released on Monday.

The earnings from the RMG sector in the first 10 months of the FY 22 has increased by 35.98 per cent to $35.36 billion from $26.00 billion in the same period of FY21, the data showed."

We must not be so hung up on this.... main thing is exports are on the rise....

The logistics chain for RMG is a long one and BD is mastering each step. This sector has not yet reached its height.

% of exports stat will hide progress in other sectors given how oversize RMG is in our export basket.

 

[UKBengali]

We must not be so hung up on this.... main thing is exports are on the rise....

The logistics chain for RMG is a long one and BD is mastering each step. This sector has not yet reached its height.

% of exports stat will hide progress in other sectors given how oversize RMG is in our export basket.

You are correct.

Areas like electronics have been growing at many 100s of per cent over the last 2-3 years. It does not show as it is coming from such a small base.

While as long as all exports grow strongly it still would be preferable for other areas to grow quicker than garments as BD needs to diversify over the medium to long term if it is to maintain it's high growth rates.

 

[bluesky]

The country’s export earnings in July-April of the current financial year 2021-22 grew by 35.14 per cent to $43.34 billion from $32.07 billion in the same period of FY 21, according to the Export Promotion Bureau data released on Monday.

In the ten months the export volume is $43.34 billion. We can expect more than $52 billion export in the July-June twelve month period.

 

[Bengal71]

We must not be so hung up on this.... main thing is exports are on the rise....

The logistics chain for RMG is a long one and BD is mastering each step. This sector has not yet reached its height.

% of exports stat will hide progress in other sectors given how oversize RMG is in our export basket.

I agree, I think it's possible to export up to 200 billion of RMG only.

 

[Destranator]

The day of massive celebration will be the day we achieve a safe positive trade balance (e.g., a $5 bn trade surplus).
This will be a major milestone for the country's industrialisation process. A solid positive balance shows that the country:

1. is able to produce most of what it needs locally.
2. is not reliant on foreign remittances to balance out the current account. We cannot be held captive by countries that hire a lot of cheap labour.
3. gains enhanced reputation as a net exporting nation which might attract more FDI's.

 

[mb444]

The day of massive celebration will be the day we achieve a safe positive trade balance (e.g., a $5 bn trade surplus).
This will be a major milestone for the country's industrialisation process. A solid positive balance shows that the country:

1. is able to produce most of what it needs locally.
2. is not reliant on foreign remittances to balance out the current account. We cannot be held captive by countries that hire a lot of cheap labour.
3. gains enhanced reputation as a net exporting nation which might attract more FDI's.

Indeed it would be.

However please note our trade account is the negative because we buy a lot of raw materials. Value addition is occurring in country and these finished goods are being consumed in country as well as being exported.

GDP growth is where we see progress that the economy is making holistically.

Until we can transition to higher value goods where majority of the value addition is occurring in country or we can become market makers status quo will remain.

There are green shoots coming up particularly in white goods, software and IT services and agri exports that we should keep an eye on.

 

[Destranator]

Indeed it would be.

However please note our trade account is the negative because we buy a lot of raw materials. Value addition is occurring in country and these finished goods are being consumed in country as well as being exported.

GDP growth is where we see progress that the economy is making holistically.

Until we can transition to higher value goods where majority of the value addition is occurring in country or we can become market makers status quo will remain.

There are green shoots coming up particularly in white goods, software and IT services and agri exports that we should keep an eye on.

Given the size of our population, we have to accept all sorts of manufacturing work from high end to low end. To be able to offer enough manufacturing jobs for the population, we must decentralise out of Dhaka and build at least 10 self-sufficient industrial cities. Workers from villages should be able to access work and all amenities in their nearest industrial hubs without ever having to visit Dhaka.
We cannot continue with this stupid Dhaka-centric economy.
This bottleneck is the root of a lot of evil including a filthy capital which leaves a terrible impression among investors.
With new mega cities being built, cost of urban living will go down and better transportation facilities can be provided which will enable quicker industrial expansion.

We cannot do this all with public money so foreign BOOT model investments in infrastructure should be welcomed. Allowing the Chinese to build, own and operate the Chittagong Metro is a good start.

 

[Bilal9]

We must not be so hung up on this.... main thing is exports are on the rise....

The logistics chain for RMG is a long one and BD is mastering each step. This sector has not yet reached its height.

% of exports stat will hide progress in other sectors given how oversize RMG is in our export basket.

Well - post pandemic pent-up demand for apparel is driving this runaway growth.

Other sectors like Pharma, electronics or leathergoods cannot compete with this growth, but they have grown too.

I saw a video that said Leathergoods like shoe export went up 30% or more Year-on-Year.

 

[bluesky]

It is very common for a developing country to import more than it exports causing negative balance. This is covered by borrowing from the loan organizations.

I think, this will continue for many more years during which more machines are imported. Machines produce goods many of which are exported. Hopefully, a day will come when consumer goods are exported and this will offset the surge in imports of other items that a country has to import.

But, even at that stage, there will remain negative trade balances. But, the economy will keep on growing.

The day of massive celebration will be the day we achieve a safe positive trade balance (e.g., a $5 bn trade surplus).
This will be a major milestone for the country's industrialisation process. A solid positive balance shows that the country:

1. is able to produce most of what it needs locally.
2. is not reliant on foreign remittances to balance out the current account. We cannot be held captive by countries that hire a lot of cheap labour.
3. gains enhanced reputation as a net exporting nation which might attract more FDI's.

 

[Arthur]

While the current account deficit ballooned to a record $13 billion.

 

[Bengal71]

Well - post pandemic pent-up demand for apparel is driving this runaway growth.

Other sectors like Pharma, electronics or leathergoods cannot compete with this growth, but they have grown too.

I saw a video that said Leathergoods like shoe export went up 30% or more Year-on-Year.

Leather goods is able to achieve 30/40 billion export if we work hard. I simply fail to understand why leather hasn't been as successful as RMG given that it's a labor intensive industry. We have been hearing about potential of leather industry for long but the progress is suboptimal at best.

 

[Homo Sapiens]

BD is on target for around 52-54 billion US dollars in export earnings this fiscal.

It is only merchandise export. Total export (merchandise+service) will touch 60 billion US Dollars.

 

[Destranator]

Leather goods is able to achieve 30/40 billion export if we work hard. I simply fail to understand why leather hasn't been as successful as RMG given that it's a labor intensive industry. We have been hearing about potential of leather industry for long but the progress is suboptimal at best.

Aro hamba lagbe

 

[bluesky]

While the current account deficit ballooned to a record $13 billion.

I think the more the country develops it needs more items to import. Such as raw materials and fuels in bigger quantities to feed the factory machines. So, before a trade balance is reached, it is possible that the negative balance will more balloon.

Brace yourself for at least one decade even if everything goes well.

This continues when even more non-garments industrial exports are achieved. However, a time comes when balance is (almost) reached.