Manpower Export against the backdrop of recession.

Abstract

The article "Manpower Export Against the Backdrop of Recession" examines Bangladesh's labor migration sector as a vital economic stabilizer during global economic downturns. The analysis highlights how remittances from overseas workers (reaching record levels with 833,000 workers exported in 2007) have mitigated the impact of declining merchandise exports, particularly during the 2008 financial crisis. While acknowledging the current dominance of semi-skilled and unskilled labor in Middle Eastern markets, the author emphasizes the urgent need for skills upgrading to capitalize on emerging opportunities in reconstruction projects (Iraq, Libya) and new labor markets (Canada, Russia). The article underscores the strategic importance of transitioning to skilled labor exports to boost foreign exchange earnings (currently $700 million monthly) and reduce import dependency, while maintaining optimism about the sector's resilience despite global economic pressures.