Bangladesh’s exports soar to record $ 52 b in FY22

Bangladesh's annual merchandise exports have hit the $ 52 billion landmark for the first time, driven by a sustainable year-on-year growth, which is 34.36% higher than the FY2021-22

The growth was reflected in the preliminary data on the export of goods for the last fiscal year (2021-2022) released by the Export Promotion Bureau, or EPB, on Sunday.

In the whole financial year, goods worth $ 52.08 billion were exported from Bangladesh, which is 19.63% higher than the target of $ 43.50 billion.

The target was based on the exports of the fiscal year of FY2021-2022, which was $ 38.75 billion. The country also earned $ 8 billion from the service sector in the last financial year.

The target was $ 51 billion for services and goods combined.

Commerce Minister Tipu Munshi told bdnews24.com that the planned efforts to increase exports have paid off.

“The Prime Minister kept a close watch on the export sector. The overall situation was good in the aftermath of the pandemic, and the Government did everything in its power to support the export sector after reopening (of the economy),” he said.

According to the Minister, the Export Authorities are planning to set a combined target of $ 65 billion for the ongoing fiscal year.

(Source: https://bdnews24.com/business/2022/07/03/bangladesh-posts-all-time-high-exports-of-52bn-in-2021-22)