An investigation committee has submitted its final report to the National Board of Revenue (NBR) regarding the inferno at BM Container Depot at Sitakunda last year. The incident had burned 2.43 lakh cartons of goods meant for export worth $19.3 million. According to the report, goods worth $18.59 million were totally damaged, while goods worth $0.7 million were damaged partially in the fire and explosions on June 4 last year. The 26-acre facility allegedly did not have any fire safety plan and lacked firefighting equipment to control the blaze before it turned into an inferno. The facility began import-export activities after fulfilling nine conditions set by the customs authorities.
$19.3m worth of export goods damaged in BM Container Depot fire
- Published On April 17, 2023
- 12:03 pm
Total Views: 0
Economic Tag: Export
Source for more details:
Related News
Bangladesh’s May Exports Surge 26.6% Led by Garments
June 5, 2023
Bangladesh's exports showed a strong recovery in May, driven by increased garment shipments, according to data from the Export Promotion Bureau (EPB). Exporters recorded $4.84 billion worth of goods in May, a 26.6% YoY increase. Overall exports for the July-May period of the fiscal year 2022-23 rose by 7.1% YoY to $50.5 billion. However, export earning sectors, excluding garments, witnessed a decline.
Bangladesh Raises Remittance and Export Dollar Rates
June 1, 2023
In a significant development, Bangladesh has raised the dollar rates for remittances and export proceeds. Expatriate Bangladeshis will now receive an additional Tk0.50 for remittances, while the dollar rate for export proceeds will be Tk1 higher. The new rates stand at Tk108.50 for remittances and Tk107 for export proceeds. Including the 20.5% government incentives, remitters will receive Tk111.25 per dollar.
Bangladesh’s Apparel Export to EU Grows 3.9% in Value
May 25, 2023
Bangladesh's apparel export to the European Union (EU) has demonstrated positive growth during the January-March period of 2023. The value-wise growth reached 3.9%, amounting to $5.6 billion compared to $5.4 billion in the same period of 2022. With a 24.07% share of the EU's total ready-made garment (RMG) import in terms of dollar value, Bangladesh remains the second-largest apparel import source for the EU, just behind China, which holds a 24.55% share.
BD’s Export to Australia Reaches $12 Billion
May 22, 2023
In the face of global economic headwinds, Bangladesh has emerged as an emerging and high-potential non-traditional market, with Australia becoming a significant destination for exports worth $12 billion. According to data from the Export Promotion Bureau (EPB), in the first ten months of fiscal year 2022-23, Bangladesh witnessed a remarkable 34.3% year-on-year growth, earning $1.05 billion from the Australian market. Industry insiders attribute this achievement to factors such as duty-free market access, product diversification, extensive marketing efforts, and the China-Australia geopolitical conflict.
Tea exports declining for local demand
May 22, 2023
Bangladesh's tea exports have suffered due to increasing domestic demand, despite the steady growth in tea production over the past decade. The country's population growth and urbanization have fueled higher consumption, hindering the export potential of the tea industry. Tea production reached an impressive 94 million kilograms in 2022, marking a 53 percent increase from 2012. However, only 0.78 million kilograms of tea were exported, a significant drop from 2.17 million kilograms in 2020.
Related News
Bangladesh’s May Exports Surge 26.6% Led by Garments
June 5, 2023
Bangladesh's exports showed a strong recovery in May, driven by increased garment shipments, according to data from the Export Promotion Bureau (EPB). Exporters recorded $4.84 billion worth of goods in May, a 26.6% YoY increase. Overall exports for the July-May period of the fiscal year 2022-23 rose by 7.1% YoY to $50.5 billion. However, export earning sectors, excluding garments, witnessed a decline.
Bangladesh Raises Remittance and Export Dollar Rates
June 1, 2023
In a significant development, Bangladesh has raised the dollar rates for remittances and export proceeds. Expatriate Bangladeshis will now receive an additional Tk0.50 for remittances, while the dollar rate for export proceeds will be Tk1 higher. The new rates stand at Tk108.50 for remittances and Tk107 for export proceeds. Including the 20.5% government incentives, remitters will receive Tk111.25 per dollar.
Bangladesh’s Apparel Export to EU Grows 3.9% in Value
May 25, 2023
Bangladesh's apparel export to the European Union (EU) has demonstrated positive growth during the January-March period of 2023. The value-wise growth reached 3.9%, amounting to $5.6 billion compared to $5.4 billion in the same period of 2022. With a 24.07% share of the EU's total ready-made garment (RMG) import in terms of dollar value, Bangladesh remains the second-largest apparel import source for the EU, just behind China, which holds a 24.55% share.
BD’s Export to Australia Reaches $12 Billion
May 22, 2023
In the face of global economic headwinds, Bangladesh has emerged as an emerging and high-potential non-traditional market, with Australia becoming a significant destination for exports worth $12 billion. According to data from the Export Promotion Bureau (EPB), in the first ten months of fiscal year 2022-23, Bangladesh witnessed a remarkable 34.3% year-on-year growth, earning $1.05 billion from the Australian market. Industry insiders attribute this achievement to factors such as duty-free market access, product diversification, extensive marketing efforts, and the China-Australia geopolitical conflict.
Tea exports declining for local demand
May 22, 2023
Bangladesh's tea exports have suffered due to increasing domestic demand, despite the steady growth in tea production over the past decade. The country's population growth and urbanization have fueled higher consumption, hindering the export potential of the tea industry. Tea production reached an impressive 94 million kilograms in 2022, marking a 53 percent increase from 2012. However, only 0.78 million kilograms of tea were exported, a significant drop from 2.17 million kilograms in 2020.