Bangladesh exports rise 12.7%

DHAKA: Bangladesh’s exports rose 12.7 percent in December from a year earlier to $3.2 billion, driven by an increase in readymade garment sales, official data showed. Exports for July to December, the first half of the country’s 2015-16 financial year, rose 7.8 percent from a year earlier to $16.1 billion, the Export Promotion Bureau said. Sales of garments, comprising knitwear and woven items, totalled $13.13 billion in the July-December period, up 9.2 percent from a year earlier. Garments are a key foreign-exchange earner for the South Asian nation, whose low wages…

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Sri Lanka’s earnings from exports decline 6.0%

COLOMBO: Sri Lanka’s earnings from exports declined by 6.0 per cent in the month of October to US dollars 847.3 million, year-on-year, reflecting lower earnings from exports of all major categories mainly due to weak global demand. On a cumulative basis, earnings from exports declined by 3.9 per cent to US dollars 8,843 million during the first ten months of 2015, reflecting a significant decline in earnings from tea, rubber products and sea food exports. On the other hand, expenditure on imports decreased by 6.4 per cent, year-on-year, to US…

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Turkish exports decline 8.7% for 2015

ANKARA: Turkey’s exports for 2015 showed a decline of 8.7 per cent compared with the previous year, falling to US$144bn, according to data from the Exporters’ Assembly of Turkey (TIM). TIM attributed the disappointing result to fluctuations in parity, decreasing commodity prices and ongoing political conflicts, not least the recent rift between Ankara and Moscow. Since Russia banned many imports from Turkey in retaliation for the latter’s downing of a Russian jet close to the Syrian border, Turkish sales to Russia have fallen by around 52 per cent, according to TIM.…

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American Chamber opens expanded office in Singapore

SINGAPORE: The American Chamber of Commerce in Singapore (AmCham) officially opened its newly expanded office in Orchard on Monday (Jan 11). AmCham said in a statement that the enhanced platform will enable it to better support its growing membership with “advocacy, insights, and connections”. The expansion also signals its confidence in the future growth of the American business community here, it said. “We look forward to using these offices as launch pad for many more decades of cooperation and success,” said AmCham chairman James Andrade. AmCham has grown to become the…

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Exports within SAARC countries

According to a World Bank report titled Global Economic Prospects, the official trade volume within the SAARC countries is less than 2 percent of their gross domestic product as export flows of the South Asian nations are highly concentrated with the European Union and United States. At least the one third of the world population lives in South Asia and economies in the region are also growing, but 2 percent official trade within the countries is not even at an average and this is because of political constraints and territorial…

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