Interim govt sets Bangladesh overall FY25 export target at $57.5 bn

10 Sep '24

2 min read

Interim govt sets Bangladesh overall FY25 export target at $57.5 bn

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Bangladesh wants to raise its overall exports by 12.59 per cent YoY to $57.5 billion in FY25, finance and commerce adviser Salehuddin Ahmed said.
Merchandise and services exports are expected to see YoY growth of 12.44 per cent and 13.64 per cent respectively to reach $50 billion and $7.5 billion.
Multiple agencies will now coordinate to release export data.

Bangladesh wants to raise its merchandise and services exports by 12.59 per cent year on year (YoY) to $57.5 billion in fiscal 2024-25 (FY25), according to finance and commerce adviser Salehuddin Ahmed.

Merchandise and service exports are expected to see YoY growth of 12.44 per cent and 13.64 per cent respectively to reach $50 billion and $7.5 billion, Ahmed announced during a recent press briefing.

Though the export target is not unrealistic, the logistics, port and transportation services and energy supply must be quite smooth to achieve this goal, Khandoker Rafiqul Islam, president of the Bangladesh Garment Manufacturers and Exporters Association, was cited as saying by a domestic media outlet.

And political stability and a better law-and-order situation are also essential to restore the confidence of investors, entrepreneurs, he emphasised.

Ahmed said export data now will be released with the coordination of all agencies concerned.

The Export Promotion Bureau, the National Board of Revenue and the Bangladesh Bank will provide real-time export data to avoid errors. These will revise the export data every three months starting October this year to ensure accurate reporting.

The interim government will also work to diversify the country's export basket, Ahmed added.

Fibre2Fashion News Desk (DS)

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