Exports stood at $3.01 billion in April

Why can’t Bangladesh have its own global apparel brand?

Bangladesh has emerged as an economic success story, primarily through its booming ready-made garments (RMG) sector.

Bangladesh shipped $11.37 billion worth of merchandise in the first quarter

However, overall shipments grew 2.01 percent to $51.54 billion in July-May, according to data from the Export Promotion Bureau (EPB).

Shipments hit $4.07 billion in May, 23.75% lower than the monthly target of $5.33 billion

It declined 0.99% year-on-year to $3.91 billion in April

Oct's shipment fell to $3.76 billion this year from last year's $4.35 billion

It hit $4.31 billion in September

Bangladesh’s apparel exporters displayed the sharpest growth in the US in 2022, leaving behind their competitors in the countries such as China and Vietnam, owing mainly to the lingering tariff war between Washington and Beijing and capacity building.  

The debate over wage increase has risen at a time when the majority of people in the country are suffering due to skyrocketing commodity prices

Five developed nations have continued to account for more than half of Bangladesh’s export earnings, highlighting the country’s narrow market base and the vulnerability it faces.

Operations at Payra port have slowed down significantly following the temporary stoppage of coal imports for the Payra Thermal Power Plant in Kalapara upazila of Patuakhali.

Shipments rose 26.6% year-on-year to hit $4.84 billion

Players in the ICT industry of Bangladesh have urged the government to adopt long-term policies, which include extending income tax exemption for the sector by six years and incentivising exports of IT-enabled services (ITES).

The rate will be applicable for shipments of December and January

I am not ruling out the possibility of Bangladesh being granted a place in the GSP+. I would rather argue that we need to also prepare for a time when we can stand on our own two feet as far as international trade is concerned. To do this, I believe we now need to make faster moves on bilateral Free Trade Agreements (FTAs) and also preferential trading agreements (PTAs) with some of our existing trading partners, where we can negotiate mutually gainful benefits and opportunities. It is a new game that our government and businesses must start preparing for.

Unpredictability has become the new normal in a world afflicted by the forces of deglobalisation amidst rising geopolitical tensions.

It seems that just as we recover from one crisis – the global pandemic – another one begins.

Exports grew 7.11 percent year-on-year to $2.95 billion in April riding on the higher shipment of garment items.