Bangladesh's exports cross $5 billion for the first time

Bangladesh’s exports cross $5 billion for the first time

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Noting that the export industry is passing through a difficult phase, he said, “Nevertheless, the surprising success in November was due to rising raw material prices, high-end apparel production and increased exports to new markets such as Korea, the Middle East and Milli. India.”

Bangladesh Chamber of Commerce President Anwar-ul Alam Chowdhury said Bangladesh’s exports from its main competitors China, Myanmar and Vietnam have lagged behind in the last five months due to the changing global situation. As a result, some buyers from these countries have recently turned to Bangladesh.

“Therefore, Bangladesh’s apparel exports have grown despite the gas and electricity crisis. This is a sign of Bangladesh’s stable position in the export market,” he added.

In recent months, exporters have been complaining of a 30-50 per cent drop in production due to gas and power constraints. The Ukraine-Russia war also pulled down buying orders from Europe and the US, the biggest markets for apparel exports, amid growing fears of an economic recession.

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