Metropolis Desk-
Due to diminishing demand from important markets like Europe, Bangladesh’s export revenues decreased in 2022–2023.
Concerns about the state of the economy and the employment market were raised by a decline in export sales for agricultural products, leather, jute, and jute goods, frozen and live fish, and jute and jute products.
The export revenue from frozen and live fish was impacted by unfavorable weather and poor prices, while the production of shrimp was impacted by heat waves and the Russia-Ukraine war.
Jute and jute-related exporters earned over $1 billion for the second year in a row up until FY22, but export revenues fell sharply in FY23.
The export of natural fiber products was impacted by factors including India’s anti-dumping duty and high raw jute costs in 2020–21.
Dry foods experienced a drop, while export revenues from jute yarn and twine fell the most dramatically.
Export revenues for agricultural products suffered as a result of the ban on the transport of aromatic rice.
Because manufacturers may eliminate jobs to solve the issues, the fall in exports in the non-garment industry is concerning for the economy.
