Thursday, August 13, 2020 | ePaper

$48b export target announced for FY21

  • Print


Economic Reporter :
Commerce Minister Tipu Munshi on Thursday said that the government has fixed $48.0 billion export target for the current fiscal year 2020-2021.
"$41.0 billion has been fixed for goods export sector and $7.0 billion for the services export sector," said the minister at a virtual press briefing on the occasion of the announcement of export targets for the fiscal year 2020-2021.
The growth in goods exports has been targeted 21.75 per cent and 9.46 per cent in services sector, said Tipu.
Last fiscal year, the target was $54 billion which could not be achieved for the negative impact amid global coronavirus outbreak, he said.
The target has been fixed after reviewing recent trends in world trade, the impact of Covid-19 on the domestic and global economy, Prime Minister's announced financial stimulus, development of new products and services sector with export potential, short and medium term measures taken as per the review of the task force of the Ministry of Commerce and the growth rate achieved in the export sector last year, said the minister.
He said that due to the negative impact of  Covid-19 on world trade, the export earnings of the goods sector declined in March, April and May, but it has started increasing since June.
The minister said, "Hopefully, it'll be possible to increase the pace of exports if the right policy is followed and its implementation could be ensured on time."
It has been decided that after six months of the current financial year, the $48 billion exports target announced today will be redefined by reviewing and analysing the global economy and the dynamics of country's exports, he said.
The minister said that with the sincere efforts of all concerned, it will be possible to achieve the announced targets.

More News For this Category

Cathay Pacific reports first-half loss of $1.27b

Cathay Pacific reports first-half loss of $1.27b

AFP, Hong Kong :Troubled Hong Kong carrier Cathay Pacific said it lost HK$9.9 billion (US$1.27 billion) in the first half of this year, making it the latest major airline

Brazil economy minister losses 2 top deputies

AFP, Rio De Janeiro :Brazilian economy minister Paulo Guedes said Tuesday two of his top deputies had resigned in a "stampede," news that could rattle market confidence in his

Trump candidate for Inter-America bank accuses Argentina of 'obstruction'

Trump candidate for Inter-America bank accuses Argentina of 'obstruction'

AFP, Washington :US President Donald Trump's candidate to head the Inter-American Development Bank said Tuesday he has the backing of the majority of Latin American countries but accused Argentina

Russian economy shrinks 8.5 percent in second quarter

AFP, Moscow :Russia's economy contracted by 8.5 percent year-on-year in the second quarter, the state statistics agency said Tuesday in its first assessment of the impact of the coronavirus

Virus hits Commonwealth Bank profits in 'challenging' year

AFP, Sydney :Australia's Commonwealth Bank (CBA) reported an 11.3-percent drop in full-year cash profits Wednesday as it took provisions against loan losses due to the coronavirus crisis.CBA said its

UK enters recession after GDP plunged by a record 20.4pc in the second quarter

UK enters recession after GDP plunged by a record 20.4pc in the second quarter

Reuters :Britain's economy shrank by a record 20.4 percent between April and June when the coronavirus lockdown was tightest, the largest contraction reported by any major economy so far,

Ziaul Hasan Siddiqui, Chairman, Board of Directors of Sonali Investment Limited, presiding over its 10th Annual General Meeting through virtually on Wednesday. Md. Ataur Rahman Prodhan, Md. Zakir Hossain, Shamim Ahmed, Subhash Chandra Das, shareholder and Md. Abdul Ohab, CEO of the company were also present.

Ziaul Hasan Siddiqui, Chairman, Board of Directors of Sonali Investment Limited, presiding over its 10th Annual General Meeting through virtually on Wednesday. Md. Ataur Rahman Prodhan, Md. Zakir Hossain, Shamim Ahmed, Subhash Chandra Das, shareholder and Md. Abdul Ohab, CEO of the company were also present.

.

Pandemic brings Gazipur tourism sector to its knees

Business Desk :Chhuti, a resort on 50 bighas of land surrounded by lakes and greeneries at Sukundibagh of Gazipur, used to draw at least 50,000 visitors every month.In last

Bourses open higher amid rising turnover

Bourses open higher amid rising turnover

Economic Reporter :Prices of most of the shares on both bourses witnessed upward trend in early trading on Wednesday as optimistic investors are showing their appetite on large-cap issues

BIDA adds three more services to its One Stop Service

Business Desk :Bangladesh Investment Development Authority (BIDA) has added three more services to its One Stop Service (OSS) Centre to provide all necessary services for investors from a single