Exports Boost Bangladesh’s Economy This Week

• Chattogram Port Achieves Record Container Handling, a 6.8% increase over last year Source

• Western Marine Signs Export Deal for 8 Ships to the UAE, marking a significant recovery Source

• EPL Accessories Invests USD 8mn in BEPZA Economic Zone, creating over 600 jobs Source

• Remittance Inflows Surge by 22% in 2024, reaching a record USD 27bn Source

• Bangladesh’s Semiconductor Sector Receives Boost, with a National Task Force Formation Source

• Karnaphuli Paper Mill Revival Plan Announced, with USD 3bn investment. Source

• Bangladesh Extends LNG Contracts, Ensuring Energy Stability Amid Market Fluctuations Source

• Oil Prices Stabilized amid tempered demand from China and rising global supplies Source

• China’s Manufacturing Grows for 3rd Month, Signaling Recovery Momentum Source

• Bangladesh Expects USD 5.65bn in Budget Support from IMF, WB, and ADB to Fuel Reforms Source

• Transport Strike Hits Imports, delaying 1.5 million tons of goods Source

Economy & Banking

• External Sector Recovers but Investment Stagnates: Bangladesh’s external sector has stabilized due to steady remittance and export earnings following the dollar rate adjustment. However, private sector credit growth dipped to 8.3% in October, reflecting weak investment activities Source

• Revenue Collection Falls Despite Improved Business Climate: Revenue collection by NBR dropped by 8.95% year-on-year in November 2024, amounting to USD 2.1 billion. Overall revenue for July-November also declined by 2.62% Source

• Bangladesh’s Exchange Rate Adjustments: Bangladesh Bank plans to increase the mid-rate for USD to BDT 119, aligning remittance and export earnings exchange rates Source

• Remittance Inflows Reach Six-Month High: December’s remittance inflows hit USD 2.42 billion, a 21.6% year-on-year increase due to incentives and favorable dollar rates Source

Trade & Commerce

• EPL Accessories to Invest USD 8mn: The company will establish a manufacturing unit in BEPZA, creating over 600 jobs Source

• Transport Workers’ Strike Delays Goods Movement: Over 1.5 million tons of imported goods were stranded due to a two-day strike disrupting water transport Source

  Chattogram Port Hits Record Container Handling: The port processed 3.3 million TEUs, a 6.8% increase over 2023, thanks to trade growth. Source

• Karnaphuli Paper Mill Revival Plan Approved: A USD 3 billion project aims to revitalize the mill and establish six new plants within five years Source

• Western Marine to Export 8 Ships by 2025: The shipbuilder signed a deal to supply vessels to the UAE, marking a comeback after five years Source

• Mobil Jamuna to Buy USD 45mn Oil Tanker: Mobil Jamuna will acquire a second-hand Aframax tanker to expand its operational footprint Source

  Robi Appoints Acting CEO: M. Riyaaz Rasheed, the current CFO, will take over as acting CEO starting February 2025 Source

International

• China’s Manufacturing Expands for Third Month: December’s PMI reached 50.1, driven by government measures to bolster economic growth Source

• Oil Prices Expected to Remain Stable: Analysts predict Brent crude will average USD 74.33 per barrel in 2025 due to weak demand and rising supplies Source

• Sri Lanka’s Inflation Declines Further: Consumer prices fell 1.7% year-on-year in December, continuing the trend from the previous month Source

• Adani Group Exits Consumer Goods JV: Adani sold its stake in the Wilmar JV for USD 2 billion to focus on its core infrastructure business Source