Regional & International Economy

In the first five months of the fiscal year 2022–23, Bangladesh’s trade deficit decreased by six percent year on year to $11.79 billion — a development that is likely to relieve pressure on the country’s foreign exchange reserves. According to data from the Bangladesh Bank shipped $20.74 billion worth of …

The state coffers were robbed of Tk 258 crore for 26 counts of irregularities by the Chattogram Port Authority between fiscal 2017-18 and 2019-20, found the Comptroller and Auditor General (CAG). The irregularities include violations of Public Procurement Rules 2008, Income Tax Ordinance 1984, National Board of Revenue’s order and …

Bangladesh Bank yesterday rolled out an export facilitation fund of Tk 10,000 crore in order to help exporters gear up their businesses. An exporter will be allowed to take a loan of a maximum of Tk 200 crore from the fund, which is a pre-finance scheme by nature. Under the …

For the first time since December 2020, private sector borrowing from external sources declined as the appetite among firms eroded for increased borrowing costs. Firms’ total external debt dropped 2 per cent to $25.4 billion at the end of September 2022 from 25.95 billion in June. At the same time, …

Bangladesh received $22.07 billion in remittance in 2022, almost unchanged from a year earlier, although a record number of workers went abroad for jobs in the just-concluding year, Bangladesh Bank data showed yesterday. It was 3.67 per cent higher than the $21.29 billion flown to the country in 2021. It …

The earning from merchandise export in December grew by 9.33 per cent year-on-year to $5.37 billion, a single month historic high of Bangladesh. The previous earning record was $5.09 billion in November last year. However, the December earning is 1.03 per cent below the target of $5.42 billion, according to …

The year 2022 saw the economy recover and rise again. We showed our fortitude and turned around in spite of all the difficulties brought on by the largest crisis of the century, Covid-19. Due to the advanced economies’ looming recession and the fact that our economy hasn’t yet fully recovered …

In 2022, AFD and the Economic Relations Division of the government of Bangladesh signed a host country agreement (HCA) for the establishment of AFD activities in Bangladesh, a successful outcome of years of negotiations between the French and Bangladesh governments. This was a crucial step which came after 10 years …

Bangladesh’s apparel exports to the European Union in January-October of 2022 increased by 60.75 per cent to 18.47 billion euro compared with that of 11.49 billion euro in the same period of 2021 due to an increase of unit prices and shipments to the economic bloc. According to the data …

Bangladesh’s export sector showed its prowess in 2022 despite the devastating Russia-Ukraine war, unprecedented freight costs, energy crisis, record inflation and a risk of a recession that loomed throughout the outgoing year. The sector was off to a good start in January as the coronavirus situation improved in much of …