The cabinet on Monday approved the draft of the new export policy, setting the target of earning $110 billion from exports by the financial year 2026-27.
The new three-year policy began from the current financial year on Monday.
Cabinet secretary Md Mahbubur Rahman at a briefing at secretariat said that the income target of the immediate past export policy was $80 billion.
Referring to provisional data, of the just concluded FY24 he said that the overall income stood around $70 billion.
According to the export promotion Bureau data, the government has set an export earnings target of $72 billion for FY24.
Out of the total $72 billion, the earnings target for goods had been set at $62 billion while for the service sector the target was set at $10 billion.
Against the target, Bangladesh’s export earnings from goods in 11 months (July-May) stood at $51.54 billion, which is 8.47% lower than the government-set target, the EPB data showed.
Regarding the service sector, the EPB released data up to March 2024 that showed export earnings from the sector in the nine months of the financial year 2023-24 stood at $5.08 billion, nearly 30% lower than the government-set target.
