Export earnings in first quarter see 13.38pc growth

Bangladesh's export earnings grow in AugustBSS

The export earnings of goods in the first quarter (July-September) of the current fiscal year (FY23) witnessed a growth of 13.38 per cent fetching $12,496.89 million, reports news agency BSS.

The export earnings during the first quarter of the last fiscal year (FY22) were $11,021.95 million.

According to the latest statistics of the Export Promotion Bureau (EPB), the overall export earnings during this three-month period were also 0.62 per cent higher than the strategic export target of $12,420 million.

The EPB statistics, however, showed that the single month’s export earnings witnessed a fall of 6.25 per cent bagging $3,905.07 million.

Although the export of RMG items witnessed a growth of 13.41 per cent during the first quarter of the current fiscal year (FY23) totalling $10,274.33 million, the single-month export of RMG items in September witnessed a fall of 7.52 per cent.

Talking to BSS, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Mohiuddin Rubel said that amid a sign of global economic recession, the worldwide demand for apparel has declined and the selling of RMG items at the retail level has witnessed a fall.

Rubel, however, mentioned that the Bangladeshi RMG manufacturers are cautious enough about the export of RMG items under the current global context.