Bangladesh receives $958 million remittance in 2 weeks of April
Bangladesh received $958 million in remittance in the first two weeks of April as Bangladeshis working abroad sent more money to families ahead of Eid-ul-Fitr. According to the Bangladesh Bank data, $134 million came through six state-owned banks in the first 14 days of April. Apart from this, $26 million came through the specialised Bangladesh Agricultural Bank. Besides, $794 million came through private sector banks and $3 million came through foreign commercial banks. In March, the expatriates sent home $2 billion remittance through the banking channel. Remittance inflow has been recorded below $2 billion since September last year after the Bangladesh Bank reduced the remittance rate to Tk107 from Tk108.
RMG exports grow nearly 35pc in nine months
Exports of the country’s readymade garment (RMG) items to non-traditional markets have increased over the years owing to the ongoing move to diversify export destination markets. The exports of the apparel items to the non-traditional markets, except Russia and Chile, registered a 34.74 per cent growth to US$6.44 billion in the first nine months of the current fiscal year, the BGMEA data revealed. The non-traditional market accounted for 18.28 per cent of the total RMG export earnings of US$35.25 billion during the period, according to Bangladesh Garment Manufacturers and Exporters Association (BGMEA) data. In fiscal 2009-10, RMG exports to non-traditional markets was US$1.08 billion or 8.66 per cent of total earnings, the data showed. According to the industry people, Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, UAE, Malaysia, Saudi Arabia, South Africa, New Zealand and Turkey are the 15 potential markets beyond the three traditional export destinations of USA, European Union (EU) and Canada.
Export-import thru Ctg port rises on economic pickup
Export-import trade through Chattogram seaport shows an upturn on a month-on-month basis by official count, in what is seen a sign of economic pickup. The main seaport of Bangladesh, which handles over 90 per cent of the country’s export-import operations, recorded a substantial rise in both the submission of bills of export and import and the volume of goods clearance in March last, said officials. Some 10,720,137 tonnes of products were imported through Chattogram Customs House (CCH) in the past month, compared to 7,905,483 tonnes in February and 8,522,403 tonnes in January, according to data compiled by CCH. The CCH received 37,428 bills of entry (B/E) in March against 28,478 in February and 36,989 in January. Revenue collection by the CCH from the merchandise imports jumped to Tk 57.46 billion in March on the back of rebounding external trade – the amount was Tk 42.87 billion in February and Tk 47.44 billion in January.