8 local business groups in Bangladesh that have reached the billion dollar club

8 local business groups in Bangladesh that have reached the billion dollar club

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The country is currently going through various economic crises. Due to the dollar crisis, traders are struggling to import goods. But despite this crisis, eight business groups of the country have joined the billion dollar club.

These eight industrial groups are Meghna Group of Industries (MGI), Citi Group, Abul Khair Group, S Alam Group, TK Group of Industries, Pran and Square Group of Industries. Some of these groups are leading import substitution industrialization and some are leading the export sector.

BSRM Group delisted due to decline in raw material imports. The business group imported products worth US$920 million in fiscal 2022-23, up from US$1.37 billion last year.

Ha-Mim Group, one of the top exporters in the apparel sector, is close to reaching the billion dollar mark due to increase in exports. Its export and import transactions reached US$900 million.

Meanwhile, Akij Group could not make it into the billion dollar club as the company was split among heirs. Entrepreneurs say that if there was no economic crisis, the number of business groups in the billion dollar club could be higher.

According to data from Bangladesh Bank and Export Promotion Bureau, the volume of exports and imports in the last financial year was US$130.62 billion. Of this, the exports and imports of these eight trading groups together amounted to US$13.54 billion.

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