Saturday, July 20, 2024

Bangladesh Beats Pakistan as Exports Doubled in March

Bangladesh isn’t exactly an idyllic Nordic country. Natural disasters frequently strike, it is underdeveloped and corrupt, overpopulated and impoverished, there is sporadic terrorism, and it has a diverse culture.

But The Export Promotion Agency of Bangladesh said that the country’s exports dropped by 2.49 percent yearly in March, falling short of the $5.02 billion monthly objective.

In comparison to Pakistan’s exports of $2.367 billion in the same month, Bangladesh’s exports of $4.64 billion in March 2023 were 96% greater.

In spite of the drop in March, Bangladesh’s exports as a whole climbed by 8.07 percent annually to $41.72 billion in the first nine months of the current financial year (FY23).

It is worth mentioning that, according to trade data issued by the Pakistan Bureau of Statistics, Pakistan’s exports increased in March 2023 on a month-over-month basis after six months of straight declines and stood at $2.367 billion (PBS).

According to the trade data, the nation’s exports from July through March of FY23 totaled $21.046 billion, down from $23.350 billion during the same period of FY22, a decrease of 9.87 percent.

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