Bangladesh is struggling to sustain exports, labour migration and major development cooperation with Russia as US-led financial sanctions imposed after the Russia-Ukraine war continue to disrupt payment settlements.

Between April and June last year alone, Bangladesh received more than $53 million in fresh Chinese investment, nearly $30 million of it flowing straight into textiles.

Rising global energy prices, driven by geopolitical tensions, along with recent domestic fuel price adjustments, are pushing up production and transport costs and threatening Bangladesh’s export competitiveness, according to a General Economics Division (GED) report published yesterday.

Dhaka urgently needs a rapid, data-driven defence to protect its garment industry and broader economy

Bangladesh shipped $4.41 billion worth of goods in the month

Record remittances and recovering foreign-exchange reserves offer a rare cushion, but weakening exports expose vulnerabilities

Merchandise shipments dropped in Dec for a fifth straight month

September shipment down 4.6% YoY to $3.62b as Trump tariffs weighed on US orders

If India is required to pay this increased tariff, Bangladesh will enjoy a relative tariff advantage.

Dhaka must intensify negotiations while working on long-term resilience

Higher tariffs on Bangladeshi exports will cost more for American consumers, resulting in reduced demand.

Bangladesh recorded the lowest level of exports so far this fiscal year, both in terms of value and growth, in April as the production of apparel, the main export item, suffered in many areas amid an energy crisis.

It declined 0.99% year-on-year to $3.91 billion in April

The merchandise exports rebounded strongly in January as manufacturers shipped goods worth $5.72 billion, the highest in a single month, which, coupled with a rise in remittances and a fall in imports, could ease pressure on the economy.

Bangladesh’s exports bounced back in May after declining in the preceding two months riding on increased shipment of garments, the main export earning sector, according to data released by the Export Promotion Bureau (EPB) yesterday.

Bangladesh’s plans aimed at diversifying export baskets are yet to bring about the expected results as the priority sectors are not enjoying most of the benefits promised in the Export Policy for 2021-24, according to entrepreneurs. 

Bangladesh’s exports to Asian markets are growing steadily thanks to increasing demand from several major markets but the country needs to sign trade pacts and diversify products in a continent where the consumer class is fast expanding.     

The World Bank has found out that the exporters need around 300 hours to meet the border and documentary compliance requirements in Bangladesh, whereas the time comes down to 60 hours in India and 30 hours in China.

Bangladesh is yet to utilise $18 billion-worth export opportunities to the European Union availing duty and quota free privileges enjoyed by the South Asian nation as a least developed country (LDC), according to a study shared yesterday. 

Drug maker Renata Ltd has secured approval from the US Food and Drug Administration (USFDA) for its general facility in Rajendrapur.