Bangladesh has registered a year-on-year fall of 16 per cent in its earnings from exports in April, with the figure standing at USD 3.59 billion.
The Export Promotion Bureau (EPB) made the disclosure on Wednesday.
The export fall came on the heels of a steady downtick in inward remittance.
The country received a meager remittance of USD 1.68 billion in April, although the amount was expected to be much higher during the month of Eid-ul-Fitr. The figure was USD 2.01 billion in the previous year’s same month.
According to the EPB report, goods worth USD 45.67 billion have been exported in the first ten months of the current fiscal year, compared to an export of USD 43.34 billion in the previous year’s same period.
Exports of ready-made garments, plastic products and non-leather shoes have shown a positive trend in the first ten months of the current fiscal. On the flip side, exports of leather and leather products, frozen food, agro-processed products, jute and jute products, home textiles and engineering products declined.
Apparel traders exported RMG products worth USD 38.57 billion in the July-April period of the fiscal year 2022-23, up by 9 per cent from the exports in the previous year’s same period.
The export of leather and leather products maintained a positive note until March, but failed to retain the momentum in April. Bangladesh exported leather and leather products worth USD 1 billion until April, which is down by 52 per cent from the previous year’s same period.