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Exports fell by Tk. 20,000 crore in May

Exports fell by Tk. 20,000 crore in May
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Exports have plummeted due to declining global demand due to the corona virus. Last May, Bangladesh’s exports to the world market decreased by about 235 crore US dollars compared to the same period of the previous financial year. In local currency, the amount is about Tk. 20 thousand crore. Exporters say there is no hope of a quick recovery from this situation. At present half of the capacity is being worked in the factories. As a result, many small and medium-sized factories may lose business in the next few months. As a result, many workers will be unemployed.

According to the latest figures from the Export Promotion Bureau (EPB), Bangladesh exported  146 crore 53 lakh US dollar worth of goods in May. During the same period of the last 2018-19 financial year, the amount of export was 381 crore 34 lakh dollar. But last month, Bangladesh’s exports fell by about 235 crore dollars or 62 percent. Besides, in the 11 months from July to May of the current 2019-20 fiscal year, the export income has decreased by 18 percent over the same period of the previous fiscal year.

According to EPB sources, products worth 3,096 crore have been exported in the last 11 months. Exports during the same period of the previous financial year were 3,775 crore US dollar. In other words, in the last 11 months, compared to the same period of the previous financial year, the export has decreased by 679 crore dollars or about Tk. 57 thousand crore.

Source: Online/SZK

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