The stagnation created over import-export centering the 11th National Election has dissipated as in import expenditure has risen by 16.48 per cent in January with exports earnings rising by 10.12 percent last month. Remittance inflow has also gone up, according to a recent Bangladesh Bank report.
Researcher of Bangladesh Institute of Development Studies, BIDS, Dr Zaed Bakht, says: “The economic indicators now show a positive sign and expatriate income, import and export expenditure will increase in the coming months.”
Saying that there is no unrest in post-election situation, he added: “Export income in February has seen a 10.12 per cent hike with income to the amount of over $3.38 billion .”
Last February the income was over $3.07 billion.
Remittance has also seen a rise and expatriates sent nearly $1.32 bllion.
Meanwhile, EPB states that in the first seven months of the fiscal year 2018-19 (July-Feb), Bangladesh earned over $27.56 billion from exporting items.
This is 12.98 per cent more than the same time last year. Assessment of central bank information shows that the import cost of commodities fell during the 11 national elections.
Export income was also stagnant.
Compared to November 2017, import cost fell by 2.69 per cent in 2018. Bangladesh Bank report states that import expenditure was $5.08 billion in November 2018.
As per central bank reports, in the last fiscal (2017-18), imports to the country was worth $54.46 billion which was 25.23 per cent more than the last fiscal.
According to central bank, the remittance in February, the shortest month of the year, was $1.32 billion, which is 14.68 per cent more than the same time last year.
In the July-February period, 84 per cent of export income has come from ready-made garments, of which knit garment brought over $11.49 billion and woven earned $11.63 billion.
For the 2018-19, the government has fixed an export income of $39 billion.