Bangladesh targets $37.5 billion export earning in FY2018

Bangladesh has set an export target of $37.5 billion for the current fiscal year, which is a 1.35 percent rise from the previous year.

Senior Correspondentbdnews24.com
Published : 30 July 2017, 11:13 AM
Updated : 30 July 2017, 01:16 PM

The government estimates the garment industry will be able to fetch $31.6 billion in exports by the end of the current fiscal year, accounting for almost 80 percent of the earning.

"I hope we will be able to achieve our target," Commerce Minister Tofail Ahmed told the media at the secretariat on Sunday after revealing the figures.

Bangladesh's exports earning stood at $34.83 billion in FY2017 against the target of $37 billion.

Ahmed said they expect the service sector to earn a further $3.5 billion by the end of the current fiscal year.

The target from woven garment is set at $15.06 billion, up 10.08 percent from last year while it is $15.10 billion for knitwear, which is a 9.76 percent rise.

In the just concluded fiscal 2016-17, the apparel sector earned $28.14 billion -- $14.39 billion from woven garments and $13.75 billion from knitwear, Ahmed said.

Sector

Target (US$)

Growth (%)

Jute and jute goods

1.05 billion

9.62

Leather and leather products

1.38 billion

11.83

Frozen fish

535 million

1.61

Agro-processing industry

570.6 million

4.13

Plastic products

148 million

26.55

Pharmaceuticals

100 million

12.15

Home textile

880 million

10.12

Engineering products

876 million

27.17

Ceramics

40.3 million

9.86

Toufique Imrose Khalidi
Editor-in-Chief and Publisher