Export, import, forex to rise in May-June
MCCI reviews economic situation
FE Report | Friday, 18 May 2018
The Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) has projected rise in the country's export earnings, import value and inward remittance flow at the end of this month (May) and next month (June).
Besides, the country's foreign currency reserve is also expected to increase to around US$33,200 million and US$33,290 million at the end of May and June respectively.
"It is assumed that the peaceful political situation that currently prevails will continue in the coming days. Therefore, export, import, remittance, and foreign exchange reserve (forex) can be expected to increase," according to MCCI's Review of Economic Situation in Bangladesh for January-March period of FY 18.
MCCI has predicted that the country's export receipts might go up to $ 3,190 million and $ 3,260 million at the end of May and June respectively, as against $ 3,160 million in last May.
On the other hand, the country's import values are also expected to reach US$5,295 million in May and US$5,340 million in June, according to the MCCI's projections.
The country's oldest trade body has, however, predicted a rise in the rate of inflation at the end of this month because of Ramadan.
The rate of point-to point inflation is likely to increase to 5.98 per cent by the end of May, which might decline to 5.55 per cent by June-end, the MCCI review added.