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16 June 2024

Business Insider Bangladesh

Export earnings grow 9.81% in Jul-Jan

BI Report || BusinessInsider

Published: 19:13, 2 February 2023   Update: 19:15, 2 February 2023
Export earnings grow 9.81% in Jul-Jan

Representational collected image

The country’s export earnings during the July-January period of the current fiscal year (FY23) witnessed a good growth of 9.81 percent compared to the same period of the last fiscal year (FY22).

The export earnings totalled $32,447.50 million during this seven-month period compared to the same period of the last fiscal year, according to the latest statistics of the Export Promotion Bureau (EPB).

The EPB figures showed that the export earnings during this July-January period were also 0.03 percent higher than the strategic export target of $32,437 million, reports BSS.

The single-month export earnings during this January, however, showed a growth of 5.89 percent totalling $5,136.24 million compared to $4,850.37 million fetched in January last year.

Analysing the EPB statistics, it was found that the RMG continued to bag the bulk of the earnings with $27,418.02 million having 14.31 percent growth of which knitwear accounted for the lion share of $14,960.38 million with a 12.70 percent growth followed by woven garments with $12,457.64 million having a growth of 16.30 percent.

Talking to BSS, Director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Md Mohiuddin Rubel said that the RMG sector has been continuing to enjoy export earnings of over $4 billion per month on average over the last few months despite braving many challenges.

He said that the current global economic situation is giving a hint of recession in this year while the global economy has also stepped into a delayed period of low growth and high inflation.

Rubel cited that many of the country’s RMG factories have been witnessing low orders which might led the owners in tough time.

Besides, the home textiles earned $692.86 million during this seven-month period followed by primary commodities $846.92 million, agricultural products $555.27 million, chemical products $181.19 million, plastic products $122.44 million, leather and leather products $733.09 million, handicrafts 17.14 million, jute and jute goods $548.10 million, specialized textiles $146.83 million, engineering products $309.01 million.