5 key developments in the economy last week

Bangladesh's economy last week revolved around its removal from the US intellectual property watch lists, a sharp rebound in merchandise exports, and garment exporters seeking clarity on a US cotton tariff deal.

The week also saw a fresh $1 billion budget support commitment from the Asian Development Bank (ADB) and inflation rising above 9 percent in April.

The following is a recap of those major stories as covered by Star Business.

Bangladesh off US IP watch lists (May 3)

Bangladesh remained off the US intellectual property watch lists in the latest Special 301 Report. However, Washington urged Dhaka to strengthen enforcement against piracy, identifying Bangladesh as a major global source of counterfeit clothing.

The report also flagged severe delays in trademark registration processes despite recent trade commitments.

Exports snap 8-month decline with 33% surge in April (May 4)

Bangladesh's merchandise exports rebounded strongly in April, surging 33 percent year-on-year to $4 billion and ending eight months of decline. Garment shipments led the recovery with 31.21 percent growth, while gains were recorded in key markets, including the US and the UK.

However, cumulative export earnings for July-April remained 2 percent below the level recorded during the same period of the previous fiscal year.

Apparel makers seek clarity on US cotton tariff deal (May 5)

Bangladeshi garment exporters sought clarity from visiting US trade officials regarding zero-tariff benefits for apparel made with American cotton.

Under a February reciprocal trade deal, BGMEA leaders and government officials met a USTR delegation in Dhaka to discuss the implementation of duty-free facilities and labour rights.

ADB to provide $1b budget support to Bangladesh (May 6)

ADB agreed to provide $1 billion in budget support to Bangladesh by June to cushion the impact of soaring energy prices.

Finance Minister Amir Khosru Mahmud Chowdhury confirmed the development in Uzbekistan, noting that the lender is aligned with the government's manifesto and renewable energy goals.

Inflation climbs above 9% in April (May 7)

Inflation rose to 9.04 percent in April from 8.71 percent in March, according to BBS data. Surging fuel and transport costs amid tensions in the Middle East drove non-food inflation to 9.57 percent.

Economists warned of further price increases as recent adjustments continue to filter through the economy.