Export earnings rise 42pc - Share market analysis of dhaka stock exchange, Bangladesh

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17 May, 2018 10:13 AM Source: The Daily Star Bangladesh

Export earnings from the services sector grew 42.14 percent year-on-year to $396.58 million thanks to increasing income from goods transportation and rising export of skilled human resources.

“The services sector's export has been growing over the last few months because we are sending more skilled and professional personnel abroad,” said Ali Ahmed, CEO of Bangladesh Foreign Trade Institute.

“Our airlines are also carrying more goods of other countries. Our target is to export $1 billion worth of services in the computer and IT services.” Transportation services by the sea, air, rail, road and others earned $431.45 million in the July-March period of the current fiscal year, up 36.24 percent year-on-year, according to official data.

Year-on-year, personal services export grew 25.64 percent to $265.99 million, financial services export 88.73 percent to $121.28 million and insurance services export 281.93 percent to $3.17 million.

However, export in the telecom sector decreased 12.99 percent to $246.59 million and computer services 11.88 percent to $132.35 million.

The overall services export rose 20.53 percent to $3.03 billion in the July-March period.

According to the decision of the World Trade Organisation, its member countries have been counting the merchandise and services exports separately. Being a least developed country, Bangladesh enjoys duty waiver in the services export.


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