On 1st of July, Monday, the cabinet approved a new export policy with a target of earning $110 billion by the financial year 2026-27. A three-year policy commenced from the current financial year.
Cabinet Secretary Md Mahbubur Rahman stated at a briefing that the previous export policy had set an income target of $80 billion. Provisional data for the just concluded FY24 showed an overall income of around $70 billion.
According to the Export Promotion Bureau (EPB), Bangladesh government set an export earnings target of $72 billion for FY24, with $62 billion from goods and $10 billion from services. However, export earnings from goods in the first 11 months (July-May) stood at $51.54 billion, 8.47% below the target. Service sector earnings for the first nine months (up to March 2024) were $5.08 billion, nearly 30% below the government target.
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