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The Financial Express

All commercial wings fail to meet export targets

| Updated: July 31, 2020 10:22:17


Picture used for representational purpose - Collected Picture used for representational purpose - Collected

All commercial wings under Bangladesh missions abroad have failed to achieve their respective export targets for the last fiscal year due to the negative impact of the Covid-19 pandemic, according to the Export Promotion Bureau.

At present, 18 Bangladesh missions out of 57 abroad have commercial wings.

On the other hand, some 52 Bangladesh missions abroad out of 57 could not achieve their respective export targets in the last fiscal year (FY).

The remaining five missions achieved their export targets as well as export growth during the last fiscal year (FY) 2019-20.

The export earnings of 47 missions were lower than that of the FY 2018-19.

The country's export earnings declined in March, April and May due to the negative impact of Covid-19 pandemic.

The export earnings from the main two sectors -- readymade garment (RMG) and leather and leather goods -- decreased in the last FY which are responsible for failing to achieve the export target of the last FY.

The government has set a US$ 48 billion export target for the current fiscal year, according to the commerce ministry.

In the last FY, export earning was US$ 40.06 billion against a target of US$ 54 billion. The target could not be achieved due to the impact of the coronavirus pandemic.

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