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Over the past 16 years, Bangladesh’s trade relations with Pakistan were strained under the Awami League government, but a shift is occurring following a change in government. Trade with Pakistan has increased, while trade with India has slightly decreased. In FY 2022-23, Bangladesh imported 3.21 million metric tons of goods from India, valued at 116,633 crore taka, but in FY 2023-24, imports dropped to 2.71 million metric tons, with the value rising to 118,093 crore taka. Conversely, imports from Pakistan grew from 1.29 million metric tons in FY 2022-23 to 1.93 million metric tons in FY 2023-24, valued at 9,129 crore taka. Both imports and exports from Pakistan have risen, with exports to Pakistan in the first half of FY 2024-25 totaling 475 crore taka. Business leaders and economists emphasize maintaining good relations with neighboring countries and balancing imports from multiple sources to ensure reasonable prices for consumers.
The Asian Infrastructure Investment Bank (AIIB) is lending Bangladesh $400 million under its Climate Policy-Based Financing (CPBF) for infrastructure development in climate-critical sectors. Co-financed by the Asian Development Bank (ADB), the funding will be utilized in the ‘Climate Resilient Inclusive Development Programme (Sub-programme 2)’, implemented by multiple government divisions. The finance ministry expects the funds to be available by June 2025. This follows AIIB’s previous $400 million loan in June 2024 under Sub-programme 1, which focused on structural reforms for climate resilience. The program’s policy actions, to be completed by March 2025, aim to support sustainable and inclusive growth while helping Bangladesh meet IMF foreign exchange reserve targets. The loan package includes three key policy reforms: enabling climate actions, reinforcing adaptation strategies, and accelerating mitigation efforts. Bangladesh seeks to enhance sustainability, reduce climate vulnerabilities, and transition to a low-carbon economy amid efforts to boost foreign reserves.
Bangladesh’s Purchasing Manager Index (PMI) rose to 65.7 in January, up by four points from December, marking the fourth consecutive month of expansion. The growth was driven by the agriculture, construction, and services sectors, while manufacturing expanded at a slower pace. Despite economic dynamism, future business confidence remains weak due to sluggish domestic demand, rising costs, and energy supply disruptions. Agriculture saw accelerated expansion, with new business and order backlogs growing, though employment contracted. Manufacturing expanded for the fifth month but faced slower growth in new orders, exports, and input purchases. Construction posted its second consecutive month of faster expansion in new business and activity, but employment and order backlogs contracted. Services expanded for the fourth month, showing growth in new business, employment, and order backlogs. The PMI, launched 14 months ago, is a key economic indicator, with readings above 50 signaling expansion. The index had previously fallen to 35 in July but rebounded past 50 in September.
Bangladesh remained the world’s top shipbreaking destination in 2024, dismantling 130 ships, despite a 23.5% decline from the previous year due to dollar shortages and weak demand. Of the 409 ships dismantled globally, 255 ended up in South Asia, with 80% scrapped in Bangladesh, India, and Pakistan under substandard conditions. A 52% decline in the total weight of imported scrap vessels further impacted the industry. Bangladesh faced one of the worst accidents, where an oil tanker explosion killed six workers and critically injured six others in Chattogram. The shipbreaking sector is struggling as steel re-rolling mills, its primary buyers, suffer from reduced public construction projects. With 150 shipbreaking yards, only 30 remain active, while seven have achieved “green” status. Industry leaders predict continued challenges unless construction demand recovers, questioning the sector’s viability amid rising losses and high operational costs.
Bangladesh’s overseas migration dropped by 27.4% in 2024, with migrant numbers falling to 10,09,146 from 13,90,811 in 2023, according to Ami Probashi’s Annual Report 2024. The sharp decline, particularly between May and September, was attributed to political and economic instabilities. Despite this, female BMET registration nearly doubled, rising from 2.78% in 2023 to 4.79% in 2024. Saudi Arabia remained the top destination, accounting for 62.17% of total migration (627,000 workers), while Malaysia saw a decline to 93,000 workers due to policy changes. General Training Enrolment for overseas jobs dropped by 52.5% to 112,166. Dhaka sent the most migrants (2.64 lakh), followed by Chattogram (2.31 lakh). Experts suggested that better training, gender-inclusive policies, and improved foreign labour agreements could help revitalize the migration sector. The report also highlighted a shift in female employment trends, with more women opting for tech-related jobs over traditional domestic roles.
Bangladesh’s power demand is projected to hit 18,000MW this summer, while the highest possible generation is 17,260MW, leading to a 740MW shortfall. During Ramadan, demand is expected to reach 15,700MW, with a government target of zero load shedding. Post-Ramadan, load shedding may rise to 1,400MW. Gas supply to power plants will increase to 1,200 mmcfd, enabling up to 6,200MW generation from gas-fired plants. LNG imports will rise to four cargoes per month from 2-3 cargoes. Cooling loads, mainly air conditioners consuming 6,000MW, may be reduced by encouraging 25-26°C settings. The PDB requested $4 billion to ensure stable power supply, with priority funding from the finance division. To manage shortages, strategies include rescheduling irrigation pump use, early shopping center closures, and reducing excessive lighting. The Matarbari coal plant’s power purchase agreement will be finalized, with Tk 8.40 per unit pricing, cheaper than Payra, Rampal, and Adani plants.
TRANSFORM, an impact accelerator led by Unilever, the UK Government, and EY, announced grants of up to BDT 10 million each for two Bangladeshi SMEs focused on climate resilience. Deshifarmer, an agri-tech platform, connects farmers directly to consumers, aiming to benefit 3,000 farmers and 20,000 consumers in its first year. Techno Plastic Solution addresses ocean plastic pollution by improving collection infrastructure and launching a pilot program in Kuakata to collect 100 tonnes of plastic waste monthly. The Bangladesh Climate Challenge, launched in October 2023, supports enterprises working on climate resilience through funding and resources. This collaboration between Unilever, the UK Government, and EY marks their first joint effort in Bangladesh. TRANSFORM has previously supported 10 other enterprises in Bangladesh, impacting over three million lives.
A proposed hike in gas prices by Petrobangla has sparked major concerns among industrialists in Bangladesh, fearing economic harm. Industrial leaders argue that the increase, if approved, could lead to factory closures, job losses, and reduced industrial output, harming economic growth and potentially causing social unrest. Critics like Kutubuddin Ahmed and Abdullah Hil Rakib highlight that rising power and production costs already challenge competitiveness. The proposal affects new and existing gas users, with significant cost increases tied to LNG imports and additional charges. Industry leaders urge the government to reconsider the proposal, warning of the detrimental impact on both industries and the broader economy.
In FY 2023-24, the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) faced operating losses due to reduced trading, fewer IPOs, and increased costs. The DSE’s core revenue of Tk 125 crore fell short of expenses, causing a Tk 20 crore loss, while the CSE incurred a Tk 10 crore loss with Tk 31 crore in core revenue. Both exchanges relied on fixed deposit interest to achieve net profits of Tk 61 crore (DSE) and Tk 31 crore (CSE).
Declining daily turnovers, down to Tk 622 crore for the DSE, coupled with poor fund management and risky investments in troubled banks and NBFIs, exacerbated challenges. Experts recommend reforms, product diversification, and stronger company listings to revitalize the market. Meanwhile, 95% of brokerage houses are struggling with operating losses due to sluggish trading.
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Sales of heavy-duty trucks and covered vans rebounded in 2024, driven by pent-up demand and fleet replacement cycles, despite economic uncertainties. According to BRTA data, covered van registrations increased by 57% to 2,949 in 2024 from 1,874 in 2023, while truck registrations grew 16.5% to 2,671 from 2,292.
Bangladesh's power demand is projected to hit 18,000MW this summer, while the highest possible generation is 17,260MW, leading to a 740MW shortfall. During Ramadan, demand is expected to reach 15,700MW, with a government target of zero load shedding.
Bangladesh remained the world's top shipbreaking destination in 2024, dismantling 130 ships, despite a 23.5% decline from the previous year due to dollar shortages and weak demand. Of the 409 ships dismantled globally, 255 ended up in South Asia, with 80% scrapped in Bangladesh, India, and Pakistan under substandard conditions.