$67 Billion export revenue target for current FY

Bangladesh sets a target of $67 billion export earnings for the current financial year (2022-23).

"Export target for current fiscal has been set as $67 billion. We have earned 60 billion dollars in exports in 2021-21 financial year. Considering all aspects, this time the target of export earnings has been increased by 11 percent to 67 billion dollars. Of these, $58 billion will come from goods exporting and $9 billion from the service sector," said Commerce Minister Tipu Munshi.

He gave this information in a press conference at the Ministry of Commerce on Wednesday (July 20).

During the press briefing, the minister further said: "The Russia-Ukraine war has been affecting supply chains and raising prices of many necessary commodities. Especially food items."

"Inflation and joblessness is creasing in America and Europe. According to the IMF, the global growth rate would be 4.4%, and in the year next year it might be even lower," he added.

Actual goods export was $52 billion during the last fiscal and the service sector's actual earnings was $8 billion.

Meanwhile, the actual export of the ready-made garment sector during the last fiscal was $42.2 billion. The target has been set at $46 billion in the current fiscal for this sector.

Commerce Minister Tipu Munshi said that the government will offer policy support to ensure the export target is met.