The government is targetting $67 billion in revenues from exports of goods and services in FY23, an 11.6 percent increase from the year before, according to Commerce Minister Tipu Munshi.
Although a target of $52 billion had been set for FY22, the actual earnings exceeded $60 billion, he said on Tuesday.
The government hopes to meet the target by shipping goods worth $58 billion, while service exports are expected to contribute $9 billion.
The coronavirus pandemic triggered an economic slowdown that lasted almost two years. But the purchasing power in importing countries has improved as they transitioned out of the crisis, which in turn has resulted in unprecedented export growth, according to Tipu Munshi.
In setting the new target, the government has taken into account the ongoing economic instability caused by the Ukraine war, inflation and other challenges, he said.