CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed
2.2 million people suffer occupational injuries, illnesses
Around 2.2 million people, aged 15-years or older, experience occupational injuries and illnesses in the country annually, the Financial Express reported citing Quarterly Labour Force Survey (QLFS).
The report was released recently by the Bangladesh Bureau of Statistics (BBS). The report showed that during the 12 months prior to the survey some 2.0 million males and 0.20 million females suffered the occupational injuries and illness.
Improve labor rights to retain GSP benefit
The European Union has called on Bangladesh to show tangible progress on labour rights to avoid temporarily losing the generalised system of preferences (GSP) benefit that allows the country duty-free export to the 28-nation economic bloc, the Daily Star reported.
“This will be essential for Bangladesh to remain eligible for the Everything But Arms regime,” the report cited the EU letter as saying.
The report said that the letter came less than two weeks after the third review meeting of sustainability compact, which took place in Dhaka on May 18.
It said that the letter was sent to the secretaries of foreign, commerce and labour ministries, venting dissatisfaction as Bangladesh did not reply to its previous letter of March 16.
Fears for Bangladesh GDP as RMG growth slows
A fall in global demand for Bangladesh’s lucrative ready-made garments (RMG) sector caused a slowing in the rate of export earnings growth in the last fiscal year, Dhaka Tribune reported citing data from the Export Promotion Bureau (EPB).
The report said that although Bangladesh’s overall export earnings rose 3.67% rise in the first eleven months of Fiscal Year 2016-17 to hit $31.79 billion, the growth in export earnings slowed to 1.39%, earning $3.07 billion against the target of $3.35 billion set for the month.
The report quoted Centre for Policy Dialogue research director Khondaker Golam Moazzem as saying “Low demands in global markets caused slower growth in Bangladesh’s exports earnings, which is even seen in other countries.”
Bangladesh’s exports in May rise 1.4 pct y/y
Bangladesh’s exports rose nearly 1.4 percent in May from a year earlier to $3.07 billion, which was 8.5 percent below the target, the Export Promotion Bureau said on Tuesday, news agency Reuters reported.
For July-May, the first 11 months of the country’s 2016-17 financial year, exports rose 3.7 percent to $31.79 billion from a year earlier, 4.7 percent below the target, the news agency added.
For the full year ending on June 30, the export target is $37 billion.
