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Bangladeshi exports to Japan declining

Latest data from the Bangladesh embassy in Tokyo, reveals exports from Bangladesh to Japan are likely decrease owing to fall in net income of the Japanese people. Japan government has decided to impose a 10 per cent consumer tax on income of its citizens, which has led to decline in consumer spending. Also there has been a lot of fluctuation in the Japanese yen against the US dollar, which could also result in fall in exports.

However, experts feel that since Bangladeshi exporters have obtained duty-free access to the Japanese market, the negative impact of the above factors could be less. As per the trade councilor letter, Bangladeshi exports to Japan during July-October period this fiscal was less 0.81 percent or $2.40 million than the strategic target of $296.45 million. The net income of Japanese people fell by 16 percent in April in 2014 while Prime Minister Shinzo Abe’s decision on whether to proceed with the next proposed sales tax hike in October 2015, to 10 percent from 8 percent. It said the Japanese consumer spending is 60 percent of Gross Domestic Product of the country.

Export Promotion Bureau’s recent data showed at end of FY2013-14, Bangladesh’s exports to Japan amounted to $540 million. In 2012-13 year it was $519 million.

www.epb.gov.bd

 
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