According to figures released yesterday by the Export Promotion Bureau (EPB), Bangladesh's exports recovered in May after decreasing in the two months before on the strength of higher shipping of garments, the country's main source of export revenue.
In May, exporters exported $4.84 billion worth of goods, up 26.6% from the same month last year. A year ago, it was $3.83 billion in the same month.
The total amount of exports during the fiscal year 2022–2023's July–May period increased 7.1% year over year to $50.5 billion, despite declines in the majority of the major export-producing industries, barring apparel according to
Import export data.
At a time when Bangladesh's foreign exchange reserves are steadily decreasing since the combined receipts from exports and remittances do not equal the amount needed to pay import bills, even though overall imports have decreased, the statistics indicating an increase in export receipts is encouraging.
However, remittance inflow decreased by 10% in May. And according to data from the Bangladesh Bank released this week, it increased 1.13 percent to $19.19 billion in the first 11 months of FY23.
Source- thedailystar.net
