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The promising growth in export earnings seen at three Asian markets during the previous fiscal year has come to a halt following the coronavirus outbreak.
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With the reopening of outlets of major clothing retailers and brands in the EU and US, the inflow of work orders at local garment factories has been on the rise, albeit on a limited scale.
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Apart from the traditional markets like Europe and the US, Bangladesh should focus more on the Asian markets to revive export earnings during the time of the pandemic, said Mustafizur Rahman, a distinguished fellow of the Centre for Policy Dialogue (CPD).
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With a slump in demand for commodities among the Western consumers, Bangladesh needs to remodel its business plans to revive exports in the time of Covid-19, which has severely affected the global economy, economists said.
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Earnings from merchandise exports in the immediate past fiscal year fell 16.93 percent year on year to $33.67billion because of Covid-19 that affected production and slowed demand for commodities.
