Sohel Parvez

Central bank data highlights continuing financial account deficit in the face of international currency outflow

Except knitwear, exports earnings have been in decline across the other seven major sectors according to data by EPB

Bangladesh’s corn import may plunge in the marketing year (MY) 2023-24 beginning from May owing to reduced requirement of feed in poultry, aqua and other farms, and difficulties faced by millers in importing goods amid the ongoing forex shortage in the country, according to a recent report by the US Department of Agriculture (USDA).

Businesses in Bangladesh will face challenges in managing the impacts of higher inflation and exchange rate in 2024 as well while the cost of production and operation may increase amid the rising bank interest, several business and corporate leaders warn

Bangladesh’s economy has been passing through a challenging time for the past two years amidst growing pressure on foreign exchange reserves, the sharp depreciation of the taka and an elevated level of inflation

Mustard cultivation in Bangladesh has reached a new high as improved varieties of the crop released by public research institutions are offering higher profits and yields

Banks received 24 percent lower deposits year-on-year in the July-September quarter of this year, down from Tk 341,667 crore to Tk 259,870 crore

Bangladesh received 41 percent lower equity capital from foreign investors in fiscal year (FY) 2022-23 compared to a year ago

passenger movement through airports in Bangladesh shot up by 32 percent in (FY) 2022-23, bolstered by increased domestic travel and outflow of migrant workers

Food inflation at 12.56 percent in October this year is the highest in a decade

Earlier this month, the edible oil refiners’ association wrote to the Bangladesh Trade and Tariff Commission seeking to increase prices of cooking oil.

The interest rate on overnight borrowing and lending in the inter-bank call money market hit 8.07 percent by the end of last week, the highest in more than a decade, reflecting a tight liquidity crunch in the banking sector.

About 1.19 crore people in Bangladesh experienced high levels of acute food insecurity from May to September this year despite record cereal harvests in 2022 and 2023, said the Food and Agriculture Organisation (FAO) in a report on Friday.

Bangladesh’s cotton and yarn imports nosedived in the first nine months of 2023 as falling demand in the global and local markets, erratic gas supply and the US dollar crisis weighed on textile milers.

Exports earnings fell to $3.76 billion in October, the lowest in 26 months, as shipment of apparel items became the last major victim to the falling global demand as consumers tighten belts amid higher inflation.

The economy, which is already reeling under the pressure owing to persisting volatility in the foreign exchange market and higher inflation, is set to face another major setback as the nationwide blockade could disrupt the smooth operation of the entire supply chain.

Candy, which did not attract the attention of exporters even a decade ago, has become one of the top five items in Bangladesh’s processed food export basket, highlighting the much-needed value-addition brought on by manufacturers. 

The devaluation of taka has increased competitiveness of Bangladesh’s oceangoing ships

Rice production in Bangladesh grew for the sixth consecutive year in fiscal year (FY) 2022-23 as farmers expanded cultivation areas of high-yielding varieties (HYV) and hybrid rice in place of local varieties.

Wheat imports grew four times in the first quarter of this fiscal year as businesses showed an interest in tapping into reduced international prices of the second most-consumed grain in Bangladesh.