Govt sets $58b export target for FY 23

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20 Jul 2022, 18:01

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The government today (Wednesday) fixed the merchandise export target for the current fiscal year (2022-23) at $58.0 billion which is 11.36 percent higher than the real export earnings of the last fiscal year (2021-22).

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The export target from the services sector for the FY23 has been fixed at $9.0 billion which is 12.50 percent higher than the actual earnings from the services sectors in the last fiscal year.

Commerce Minister Tipu Munshi unveiled the export target both for merchandise and services sectors at a press conference at his secretariat office in the capital.

The minister is hopeful that the target would be achieved as the international buyers are placing work orders in Bangladesh even at the time of volatile global situation.

Tipu said the Russia-Ukraine war impacts have also been considered in fixing the export target for the current fiscal year.

In the last fiscal year, Bangladesh earned $52.08 billion from merchandise shipment which is 19.73 percent higher than the target of $43.5 billion, according to data of the Export Promotion Bureau (EPB).

Similarly, some $8.0 billion was earned from the services sectors against the target of $7.5 billion which is 6.67 percent higher than the target.

Overall, both from merchandise and services sectors, some $60.08 billion was earned in the last fiscal year (FY22) registering 17.80 percent higher growth than the target of $51.0 billion, the EPB data said.

Source: BSS

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