Govt targets $63.4b export, 15 percent growth in FY2026-27

The government has set an export target of $63.4 billion for the 2026–27 fiscal year as it targets 15 percent growth, Commerce Minister Khandaker Abdul Muktadir said on Sunday.

Of this, $55.2 billion is expected to come from merchandise exports and US$8.2 billion from service exports.

The minister made the remarks at a press briefing held at the Ministry of Commerce's conference room at the Secretariat.

Muktadir said despite global economic uncertainty, ongoing geopolitical tensions, and challenges in international markets, Bangladesh's export sector now has a realistic opportunity for recovery. He said the government has taken initiatives to accelerate exports by creating a business-friendly environment, facilitating investment, and simplifying government service procedures.

He added that negotiations on Free Trade Agreements (FTAs) with South Korea and the United Arab Emirates are in their final stages. The government also aims to conclude FTAs with several other countries within the current year. Formal discussions on a free trade agreement with the European Union are also expected to begin soon.

Emphasizing export diversification, the minister noted that around 85 percent of Bangladesh's total exports currently depend on the ready-made garment sector. To reduce this dependence, the government is giving special priority to the leather and leather goods, footwear, shipbuilding, ship recycling, light engineering, and information technology (IT) sectors.

Regarding the latest US tariff policy, the minister said there has been no effective change to the tariff structure applied to Bangladesh. The existing 10 percent tariff remains in place under the new legal framework, meaning there is no expectation of any additional negative impact on the country's exports.

On the energy situation, he said that gas supply constraints are still preventing the industrial sector from utilizing its full production capacity. The government is working to improve the situation by installing additional Floating Storage and Regasification Units (FSRUs) for liquefied natural gas (LNG).