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Plan big to diversify exports | The Daily Star

Plan big to diversify exports Experts say Garment is a success model for Bangladesh’s exports but now is the time to focus on other potential sectors like leather, pharmaceuticals and light engineering, an expert says. Photo: Star/File Star Business Desk Star Business Desk Bangladesh needs to formulate long-term plans on how to enhance its export basket after graduating from the UN s group of Least Developed Countries (LDCs), experts say at a webinar held yesterday. Related measures could include providing low cost and easy access to finance, adequate policy support along with fiscal and non-fiscal incentives for non-garment export sectors while ensuring equal treatment and skills development, they said.

Bangladesh exports up 15% as global demand for garments rebounds

By Syndicated Content By Ruma Paul DHAKA (Reuters) – Bangladesh’s exports jumped 15% to $38.76 billion in the financial year ended June, data showed on Tuesday, led by a rebound in demand for garments as Western economies recovered. The world’s second-largest apparel producer after China took a roughly $6 billion hit in the 2019-20 financial year, with overseas apparel sales falling 18% to $27.94 billion. Garment exports rose 13% to $31.5 billion in 2020/21 from a year earlier, thanks to a 21% surge in overseas sales of knitwear products such as t-shirts and sweaters, but were 7% below the pre-pandemic period of 2018-19 financial year, the Export Promotion Bureau said.

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