Bangladesh export income falls 5.21 pct in July 2019-January 2020

[UKBengali]

http://www.china.org.cn/world/Off_the_Wire/2020-02/04/content_75673013.htm

"The EPB data showed export performance for January was 4.218 billion U.S. dollars, down 1.70 percent year-on-year"

Looks like after the first 5 months of heavy export decline the sector is stabilising now.

After a 2.9% rise in December 2019 from a year ago, exports have declined just 1.7% last month from a year ago.

BD is doing quite well in these times of global economic slowdown and it may just still hit 8% GDP growth this fiscal.

 

[mmr]

http://www.china.org.cn/world/Off_the_Wire/2020-02/04/content_75673013.htm

"The EPB data showed export performance for January was 4.218 billion U.S. dollars, down 1.70 percent year-on-year"

Looks like after the first 5 months of heavy export decline the sector is stabilising now.

After a 2.9% rise in December 2019 from a year ago, exports have declined just 1.7% last month from a year ago.

BD is doing quite well in these times of global economic slowdown and it may just still hit 8% GDP growth this fiscal.

Without remittance bd will be in deep shit.

 

[Homo Sapiens]

http://www.china.org.cn/world/Off_the_Wire/2020-02/04/content_75673013.htm

"The EPB data showed export performance for January was 4.218 billion U.S. dollars, down 1.70 percent year-on-year"

Looks like after the first 5 months of heavy export decline the sector is stabilising now.

After a 2.9% rise in December 2019 from a year ago, exports have declined just 1.7% last month from a year ago.

BD is doing quite well in these times of global economic slowdown and it may just still hit 8% GDP growth this fiscal.

Fortunately remittance growth is very good in this year. It will counter export dip. But Bangladesh seriously need to work on export item and destination diversification if it want to maintain healthy export growth rate. Otherwise remittance would not be able fill gap much longer.

 

[UKBengali]

Fortunately remittance growth is very good in this year. It will counter export dip. But Bangladesh seriously need to work on export item and destination diversification if it want to maintain healthy export growth rate. Otherwise remittance would not be able fill gap much longer.

Remittance by itself cannot counter export dip as exports are 2.5 times the size. Yes it will help but not the whole story.

Already growth forecasts have been raised from 7.2% a few months ago to 7.8% on the back of stabilisation of export slump.

The fact that export slump has stopped over the last 2 months gives hope that BD is weathering the current worldwide economic slowdown quite well.