CPD RMG Study Stitching a better future for Bangladesh
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Export target set at $41bn for FY2017-18
The Bangladesh government has set its export target at $41 billion, with a growth target of 7.87%, riding on apparel products, for the FY2017-18, Dhaka Tribune reported.
Of the amount, $37.50 billion is expected to come from the manufacturing sector, including the RMG sector, while $3.50 billion will come from the service sector, including computer services, the report added.
The gap between buying and selling rates for US dollar has recently widened to Tk 1.50 from Tk 1, in a development that has made imports costlier and can go on to create inflationary pressure and squeeze the foreign exchange reserves, the Daily Star reported.
For years, the gap has been Tk 1 a dollar as per the instruction of the central bank, according to data from the Bangladesh Bank and Bangladesh Foreign Exchange Dealers’ Association, the report added.
