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Export earnings see a big leap

Published : 04 Oct 2021 11:58 PM | Updated : 06 Oct 2021 11:27 AM

The country’s export earnings showed significant growth in September this year despite the coronavirus pandemic.

A sharp rise in shipment of RMG helped fetch $4165.45 million earnings following some relaxations of Covid-19 pandemic restrictions.

Overall merchandise exports have also registered a strong positive growth after one and half years with the reopening of the markets especially in the western world.

EPB figures further show exports of readymade garments and knitwear, exports of leather and leather products, agriculture and plastic products have returned to positive trend. It has led to an increase in overall product exports.

The export performance is 37.99 per cent higher than last year September's $3.01 billion and 39.17 per cent higher than the monthly target of $2.99 billion, according to data from the Export Promotion Bureau (EPB) on Monday.

In July- September period of the current fiscal year, export earnings have returned to positive trend in the first three months of the current 2021-22 fiscal year. The overall earnings from merchandise export was $11.02 billion, which is 11.37 per cent higher than the same period last year's $9.89 billion and 5.65 per cent higher than the periodic target of $10.43 billion, said the EPB data.

Some $5.16 billion came from knitwear shipment, which posted a 15.69 per cent year-on-year growth.

Woven garment fetched $3.89 billion in the three months to September this year, a 6.35 per cent year-on-year rise, according to EPB data.

"Export earnings have remained almost stable because of recovery of readymade garment products shipment, which typically contributes more than 80 per cent to the national export," said an EPB official.

Business activities in the country have become almost normal as the government allowed to open all kinds of economic activities over the last few months especially due to rolling- out of Covid-19 vaccination in the country.

At the end of September of the current financial year, the income from the export of agricultural products has increased by about 26.9 per cent over the same period of the previous year and reached $344.5 million. 

The export income of plastic products has increased by 17.5 percent. In three months, the income in this sector has been $ 3 crore 8 lakh. Exports of leather and leather products also increased during the period, the export income from the leather sector was $ 271.34 which is about 9.73 per cent more than the target.

However, exports of jute and jute products have declined during the period. At the end of September, Bangladesh earned $ 21.23 million by exporting jute and jute products which is 37.6 percent less than the target and 30.97 percent less than the same period last year, according to the latest data of the EPB.

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