Pharmaceutical exports from Bangladesh shrank 7 per cent year-on-year in fiscal 2022-23 due to the impacts of global economic crises and subsequent US dollar shortage in most underdeveloped countries.
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The growth of garment shipment to the US and the European Union declined in July-December as consumers in the two largest export destinations of Bangladesh have remained concerned about the persisting economic uncertainty for the raging Russia-Ukraine war.
The Bangladesh Road Transport Corporation has introduced 50 shuttle buses to carry passengers between Kuril and the venue of the 27th edition of the Dhaka International Trade Fair (DITF), which will start on January 1.
Bangladesh’s earnings from vegetable exports dipped to six-year low in the July-October period of the current fiscal year as high air-freight rates and increased prices eroded the competitiveness of fresh produce.
Export earnings dropped 6.25 per cent year-on-year to $3.9 billion in September, the first fall in 14 months, as the cost-of-living crisis in the western countries took its toll on Bangladesh’s main foreign currency earning sector.
Bangladesh recorded robust export earnings riding on the main export earner knitwear and woven garments in the first two months of the current fiscal year.
A Tk 9.95 crore project of the commerce ministry aimed at expanding the country’s export basket and reducing import dependency has failed to meet its deadline for a second time due to the slow pace of implementation.
Garment exports to Bangladesh’s single largest destination, the USA, rose by 51.57 per cent year-on-year to $9.01 billion in the just concluded fiscal year.