The ratio of the export of goods and services to the Gross Domestic Product (GDP) of the country may decline in the ongoing fiscal year.
It may reach 14.36 per cent as against 15.04 per cent in the past fiscal year, the provisional estimation of the national income released by the Bangladesh Bureau of Statistics (BBS), showed.
The evaluation put the annual value of the exports of goods and services at Tk 3215.35 billion in the current fiscal year, which was Tk 2970.85 billion in FY17.
Thus, the BBS estimated around 8 per cent growth of export in the current fiscal year.
According to the latest data of the Export Promotion Bureau (EPB), the country’s earnings from merchandise export reached US$27.45 billion in the first nine months of the current fiscal year.
It also posted 6.33 per cent growth over the same period of the last fiscal year.
Meanwhile, the central bank statistics showed that the earnings from the export of services stood at $2.46 billion in the first seven months of the current fiscal year, which was $2.11 billion in the same period of FY17.
The BBS found that the export-GDP ratio has been declining gradually for the last couple of years. It was 19 per cent in FY14, which continuously dropped to 17.34 per cent in FY15 and 16.65 per cent in FY16.