The country’s merchandise export earnings maintained a healthy growth in August, registering over 36.18 per cent rise to bag $4.61 billion year-on-year, thanks to the good performance of the apparel sector, reports BSS.
Bangladesh fetched $3.38 billion in August 2021, according to provisional data from the Export Promotion Bureau (EPB) released on Sunday.
The export earnings in August this year were 7.14 per cent higher than the target ($4.3 billion) set by the Ministry of Commerce.
The ready-made garment sector, as usual, led the earnings and earned $3.7 billion in August, which has seen 36.04 per cent growth compared to the same time of the previous year.
Talking to BSS, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) director Mohiuddin Rubel said the global geo-political tension and volatile economic impact caused by that has already started to affect the export.
“With the rising inflation, consumer demand in the western market has been reducing and this has been reflected in the export scenario. So, we are rather being more careful and vigilant than being complacent,” he added.
As per EPB, the overall export earnings during July-August of the current fiscal year recorded a 25.31 per cent growth to $8.59 billion over that of $6.85 billion earnings of the corresponding period of the last fiscal.
Of the total $8.59 billion export income during the July-August period, the RMG sector fetched $7.11 billion, posting a 26.1 per cent growth over that of last fiscal.
A breakdown of the clothing-sector performance shows that the knitwear subsector of RMG earned $3.91 billion from exports, registering a 20.15 per cent growth.
Earnings from woven garments export have amounted to $3.19 billion in the past two months, up by 34.23 per cent.
Home-textile exports also recorded over a 53.39 per cent growth to $268.52 million in the first two months of this fiscal.
Meanwhile, the jute sector, which demonstrated a negative growth in the last fiscal, recorded a 22.67 per cent growth in the July-August of FY 22 with $ 156.61 million in earnings.