Dhaka, Bangladesh
Country receives $ 4,530m remittance till this month

Country receives $ 4,530m remittance till this month

Export earnings from the US see 1.62 pc growth

Bangladesh has sent 2,49,528 workers overseas with employments and received $ 4,530.46 million as remittance till April 13 this year that contributed significantly in the socio-economic advancement of the nation, reports BSS. “The trend of overseas employment is gradually increasing due to the government’s sincere efforts,” Expatriates’ Welfare and Overseas Employment Minister Nurul Islam BSc told the news agency on Thursday. He said the overall manpower export from Bangladesh is expected to witness a robust growth this year as the officials say as many as 10,08,525 workers have got overseas jobs, sending USD 13,526.84 million last year. “We’ve been working to ensure the rights and protection of the female migrant workers following the directives of Prime Minister Sheikh Hasina,” the minister added. “We have mission to ensure the welfare and rights of expatriate Bangladeshis and development of the socio-economic conditions of the country through overseas employment,” Islam said. He said the government has already set up many training centers in different districts along with launching other skill development programmes to make job seekers skill. According to data in the ministry, the government has installed 70 training centres in different districts of the country to turn the manpower into skilled and semi-skilled forces. It said the present government has sent Bangladeshi workers to 169 countries as a result of its successful labour diplomacy under the dynamic leadership of Prime Minister Sheikh Hasina and efforts underway to explore new labour markets all over the globe. The government provided various trainings including diploma in ship building engineering, refrigeration & air-conditioning, general mechanics, electrical machine maintenance, auto CAD 2D & 3D, welding (6G), catering, mason, Korean, Arabic, canton, Japanese language and others. Earlier, the government declared the overseas employment sector as the “thrust sector” with maximum stress upon further expanding job markets for the Bangladeshi job seekers abroad. Meanwhile, export earnings from the USA, one of Bangladesh’s key destinations, witnessed 1.62 percent growth in the first eight months (July-February) of the current fiscal (FY18) compared to the corresponding period of the previous fiscal (FY17) due to the good performance of readymade garments (RMG) The agency in another report adds; Bangladesh exports to the USA totaled $3,900.26 million in July-February (2017-18) period compared to $3,838.05 million in the corresponding period of the previous fiscal (2016-17). The amount represents 15.99 percent of the country’s total export earnings during the period. According to the statistics of the Export Promotion Bureau (EPB), the major exports to the US market during the July-February period were woven garment ($2,566.91 million), knitwear ($913.05 million), home textiles ($114.35 million) and cap ($86.61 million). During the period, around 25.34 percent of the country’s total woven garment exports entered the US market, followed by knitwear (9.02 percent) and home textile (16.78 percent). Despite political unrest, Bangladesh’s export earnings from the US in fiscal 2014-15 were impressive with $5.783 billion up from $5.583 billion in fiscal 2013-14. Export earnings from the USA, however, witnessed a 6.01 percent fall in the last fiscal (2016-17) compared to the previous fiscal year (2015-16) mostly due to the moderate performance of the RMG sector. Bangladesh exports to the USA totaled $5,846.64 million in the last fiscal (2016-17) compared to $6,220.65 million during the previous fiscal (2015-16). The exports in fiscal 2012-13 were also impressive with $5,419.60 million. The exports in 2011-12 were also laudable totaling $5,100.91 million, slightly down from $5,107.52 million in fiscal 2010-11. The export earnings in fiscal 2009-10, however, totaled $3,950.47 million, down from $4,052.00 million in 2008-09, mostly because of the global economic recession. The 2009-10 fiscal marked the end of an ups-and-down period for Bangladesh exports to the US. From the robust $2.5 billion during the 2000-01 fiscal, exports had fallen below $2 billion by 2003-04. Exports to the US rose steadily to cross the $3 billion mark in 2005-06, and peaked at nearly $3.6 billion during the 2007-08 fiscal.

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