What's new

Export earnings rise by 8.74pc to $32.07b in July-April

bluesky

ELITE MEMBER
Jun 14, 2016
10,717
0
12,093
Country
Bangladesh
Location
Japan


Export earnings rise by 8.74pc to $32.07b in July-April
Staff Correspondent | Published: 00:00, May 03,2021



A file photo shows labourers wearing facemasks working at a garment factory in Dhaka recently. The country’s export earnings in the July-April period of the current financial year 2020-21 grew by 8.74 per cent to $32.07 billion from $29.49 billion in the same period of the previous fiscal year riding on moderate performance of readymade garments. — AFP photo

The country’s export earnings in the July-April period of the current financial year 2020-21 grew by 8.74 per cent to $32.07 billion from $29.49 billion in the same period of the previous fiscal year riding on moderate performance of readymade garments.

Export earnings in April 2021, however, increased by 502.75 per cent to $3.13 billion from $520.01 million in the same month of the previous year, according to the Export Promotion Bureau data released on Sunday.

The country’s RMG factories remained almost closed in April 2020 as the government announced a general holiday to contain the coronavirus outbreak.
Exporters said that the export data showed positive growth in the first 10 months of FY21 compared with that in the same period of the previous fiscal year as the pandemic caused business to come to a halt on both the local and international markets.

A comparison of the export data with the scenario of 2020 would not show the real picture and the data should rather be compared with that of FY19, they said.
The EPB data showed that export earnings from RMG in July-April of FY21 grew by 6.24 per cent to $26 billion from $24.48 billion in the same period of FY20.

Earnings from woven garments in July-April of FY21, however, fell by 2.71 per cent to $12 billion from $12.34 billion in the same period of the previous fiscal year. Export earnings from knitwear in the first 10 months of FY21 grew by 15.34 per cent to $14 billion from $12.13 billion in the same period of FY20.

The data showed that export earnings from home textiles in July-April of FY21 grew by 54.12 per cent to $956.93 million from $620.9 million in the same period of FY20. Earnings from leather and leather goods in the first 10 months of FY21 grew by 8.56 per cent to $760.92 million from $700.93 million in the corresponding period of FY21.

Earnings from leather-footwear exports in July-April of FY21 grew by 11.76 per cent to $461.72 million from $413.15 million while other leather products fetched $203.10 million with a 2.94-per cent growth in the period.

Export earnings from jute and jute goods in the 10 months of FY21 grew by 30.88 per cent to $1.03 billion from $791.33 million in the same period of FY20.
Export earnings from agricultural products in the period increased by 9.1 per cent to $824.59 million from $755.8 million.

Export of engineering products in July-April of FY21 grew by 66.78 per cent to $435.74 million from $261.26 million in the same period of the previous fiscal year. Export earnings from frozen and live fish declined by 4.17per cent to $394.73 million and earnings from shrimp export fell by 11.92 per cent to $261.63 million in the 10 months of FY21.
 

mb444

SENIOR MEMBER
Apr 18, 2012
3,825
1
6,179
Country
United Kingdom
Location
United Kingdom
BD needs to catch up on lost earnings. Hopefully after the economic drought will be followed by a massive bounty.
 

UKBengali

ELITE MEMBER
May 29, 2011
17,379
7
21,004
Country
Bangladesh
Location
United Kingdom
" Export of engineering products in July-April of FY21 grew by 66.78 per cent to $435.74 million from $261.26 million in the same period of the previous fiscal year "


This is the most important point and shows how BD is slowly diversifying, as exports of higher tech items like electronics, shipbuilding, pharma etc are growing a lot faster than garments.

Hopefully at least low double-digit growth of these products can continue for the rest of this decade as BD must reduce the proportion of garment exports from current 80% to around the 50% mark by 2030, if it is to reach its goal of becoming a "middle-income" country by 2041.
 
Last edited:

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Top Bottom