Bangladesh’s Exports Rise & Black Friday Sales Break Records

• Bangladesh is set to meet all 12 IMF conditions for a USD 4.7bn loan program despite missing revenue targets Source

• Bangladesh's exports increased 16% year-on-year in November, reaching USD 4.11bn, driven by Christmas Demand & Garment Shipments Source

• Government Targets 4%-5% Inflation by FY26 and Interest Rates Through Policy Adjustments Source

• Budget Surplus Achieved by Interim Government’s Initial Reign by a surplus of BDT 48.38bn (USD 0.4bn) in Jul-Sep 2024 Source

• US Black Friday sales hit a record $10.8 billion driven by AI-powered deal searches and increased consumer spending Source

• Chevron plans to invest in new gas exploration to enhance the country’s energy security Source

• Bangladesh’s LNG Purchase Policy Attracts Giants like Shell, BP, and others approved as suppliers to boost competition and reduce LNG import costs Source

• Remittance Surged 14% in November reaching USD 2.2bn due to lower global commodity prices improving sending capacity Source

• China Supports Mongla Seaport for a USD 339mn project with Chinese loans showing renewed cooperation Source

Economy & Banking

• Budget Surplus Achieved by Interim Government’s Initial Reign by a surplus of BDT 48.38bn (USD 0.4bn) in Jul-Sep 2024, credit to restrained spending, especially on public works Source

• Next Budget Presumed Bigger at BDT 8,450bn for FY2025-26 is expected to increase by 6%, reaching BDT 8,450bn (USD 70.42bn), with a slightly lower GDP growth target of 6% Source

• External Debt Servicing Hits Record USD 1.44bn in Q1 FY25 nearly five times higher than foreign aid commitments Source

• Remittance Rises 14% in November reaching USD 2.20bn, driven by lower global commodity prices and an improved ability to remit funds Source

• USD 6bn Foreign Loan Commitments Expected by June 2025 from development partners such as the IMF and the World Bank for reforms Source

• Current Account Deficit Drops in Jul-Oct’24 by 76.2% year-on-year to USD 752mn in the first four months of FY25, boosted by increased export earnings and remittances Source

Trade & Commerce

• Exports Continue to Rise by 16% year-on-year in November, reaching USD 4.11bn, with garments showing robust growth, contributing to a 12% rise in overall exports for FY25 Source

• Exports to Major Markets Increase in Jul-Oct 2024 from the US, Germany, and the UK in the Jul-Oct 2024 period, as global buyers shifted from China to Bangladesh Source

• National Single Window to Be Launched in March 2025 streamlining services from 19 authorities to boost business ease Source

• White Paper Outlines Strategies to Revive Private Investments including tax reforms and capital market development, addressing stagnation in investment Source

International

• China Manufacturing Expands for Second Straight Month in November, signaling a potential recovery from earlier stagnation Source

• US ‘Black Friday’ Online Spending Reaches Record USD 10.8bn online during Black Friday, a 10.2% increase from 2023, with major sales generation driven by AI-based suggestions Source

Energy & Power

• Chevron to Invest in New Gas Exploration in Bangladesh to boost energy security, especially in the northeastern region Source

• Bangladesh’s New LNG Purchase Policy Draws Shell, BP, Glencore, and Aramco as suppliers under its new LNG spot market policy, aimed at reducing costs Source