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Bangladesh bagged $5.13 billion through exports in January – the first month of the calendar year 2023 – fetching a 5.89% year-on-year (YoY) growth, according to recent data published by the Export Promotion Bureau (EPB).
During the same period last year, the country had earned $4.85 billion from export earnings.
Moreover, Bangladesh’s export earnings crossed the $5 billion-mark for the third consecutive month since November, when the country bagged $5.09 billion for the first time.
However, the single month earning record broke further in December, when Bangladesh earned $5.36, so far highest ever single month export earnings.
According to the EPB data, the earnings from exports in the first seven months (July-January) of the current fiscal year (FY2022-23) experienced YoY growth of 9.81% to $32.44 billion, higher than $29.54 billion in the last fiscal year (FY2021-22).
Readymade garments (RMG)— the highest export earner — bagged $27.41 billion during July-January of FY23, fetching a YoY growth of 14.31% from $23.98 billion in the mentioned period of the FY22.
Among apparel products, in the first seven months of FY23, knitwear registered a growth of 12.70% to $14.96 billion from $13.27 billion in the same period of last year, while woven garments saw a growth of 16.30% to $12.45 billion from $10.71 billion.
Leather and leather goods witnessed a growth of 7.37% to $733.09 million, higher than $682.74 million in the same period of the last FY, making the sector the second earner.
With consecutive growth over a certain period, the earnings from the home textile sector have been declining since last November.
The sector earned $682.86 million in July-January of FY23, fetching a negative growth of 16.65% from $831.31 million in the same period of the last FY.
The promising agricultural sector also witnessed a negative growth of 25.86% to $555.27 million in July-January period of FY23, lower than $748.99 million in the mentioned period of FY22.
The earnings from jute and jute products also dropped by 21.22% to $548.1 million in the mentioned period, which was $695.73% million in the same period of the last fiscal year.
The engineering sector, another promising sector of the country, also experienced negative growth of 36.86% to $309.01 million in July-January period of FY23, lower than $489.4 million in same period FY22, EPB data stated.
It is notable that except for the RMG sector, the major export earners of the country fetched negative growth which is alarming in sustaining the growth trend in the coming months.
(DT)
