Govt sets merchandise export target at $41b for 2020–21

The government has set the merchandise export target at $41 billion for fiscal 2020–21.

At a virtual meeting today, Commerce Minister Tipu Munshi announced the new export target, which is 21.4 percent higher than actual exports in the immediate past fiscal year.

The minister said the export target of the services sector has been set at $7billion, which is 9.4 percent higher than the achievement of last fiscal year.

So, total export target for fiscal 2020-21 is $48 billion. "I am hopeful that the target is achievable."

Earnings from merchandise exports last fiscal year was $33.67 billion, which is 16.93 percent less than the earning in fiscal 2018-19. The merchandise export target in fiscal 2019-20 was $45.5 billion.

Exporters in the major sectors said the target is achievable.