The wheel of the economy has turned quickly as coronavirus infections have fallen and restrictions have been lifted. Along with the increase in export earnings, the pace of investment has also increased. Besides, the volume of stock market and other trades has also increased. Overall, the traders think that the current situation is favourable, hoping there is no further spike in the infections.
Restore lost position in export
In the global garment exports, Vietnam hails the second position, surpassing Bangladesh. In 2020, they exported more than crore 1 billion worth of clothing than Bangladesh. However, in the current fiscal year 2021-22, Bangladesh's garment export income in August stood at more than Tk 265 crore. Which is about 25 crores more than Vietnam.
Consequently, the garment sector is showing signs of regaining its lost position in the current financial year.
BGMEA President Farooq Hassan said, the people are now involved in in-person activities Hopefully, if this trend of the economy continues, we will be able to reach our desired goal . He advised everyone in the garments sector to get inoculated as soon as possible.
Last August, a month of 338 million dollars, or 8 thousand 730-million-taka worth of products were exported. This income is 14 percent more than the same period last year. Last August, goods worth 2.98 billion dollars were exported. In the current fiscal year for the 4 thousand 350 million dollars of products for export targets for the government.
Loan applications for investment on rise
There was a drought of new investments due to the Covid-19 situation. Due to this, there is a lot of stagnation in bank borrowing. However, now the loan application for investment is also increasing. Resulting in excess liquid starting to get smaller.
Earlier this year, January to June, the loan distribution was 54 thousand 389 crore taka. In the first quarter till March, the distribution was a little more than 16 thousand crore taka . April to June, the delivery has been the almost doubled.
Shopping malls and Footpath selling is increasing
After a long time, traders have got the opportunity to open shops and markets in full swing at normal times. Besides, it is also being sold on the sidewalk. After the relaxation of the ban, it started selling less but gradually sales have started to increase.
Bangladesh Shop Owners Association president Helal Uddin said, economic activities are in motion. Business hubs are becoming busy as old times. This is positive signal. We are trying to move ahead. If given a chance, the economy will turn around .
Stock market recovers
The stock market continues to recover. Breaking records every day. The history of the index and the market capital is at the highest position there. Dhaka's stock market transactions are handing out three thousand crore taka on daily basis. Besides, the country's tourism and transport sector is also busy as before. Long closure ended after the government reopened all tourist sites on August 19.
