In the fiscal year 2022-23, Bangladesh faced a substantial challenge as approximately US $ 12 billion from product exports failed to return to the country, as reported by Bangladesh Bank.
An additional concern highlighted in the report is the non-arrival of US $ 90 million from service exports. Despite a decrease of nearly US $ 30 million in the value of exported goods compared to the previous fiscal year (2021-22), the overall exports surged by US $ 3.48 billion.
Meanwhile, official data from the Export Promotion Bureau (EPB) reveals that the total goods exported in the financial year amounted to US $ 55.56 billion even if Bangladesh Bank confirmed that the actual income received by the country was US $ 43.57 billion, indicating that US $ 11.99 billion from the total exports did not materialize.
Media reports maintained this adding notably, the readymade garment sector, constituting 84 per cent of Bangladesh’s product exports, faced a significant gap.
Although the EPB reported RMG exports at US $ 46.99 billion, Bangladesh Bank reportedly recorded only US $ 36.95 billion received by the country, which implies that US $ 10.04 billion worth of garment exports in the last fiscal year remained unremitted till June, claimed the reports.
