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Export earnings up 51pc in April

Published : 09 May 2022 10:47 PM | Updated : 10 May 2022 01:05 PM

The country’s export earnings witnessed a rapid growth to stand at $4.73 billion in April, up 51.18 percent over the same time of the previous year despite the corona crisis.

In the first 10 months of the current fiscal year, the total export earnings stood at $43.34 billion, which increased by 35.14 percent over the same period of the previous fiscal, according to the Export Promotion Bureau (EPB) data.

During the same period last fiscal, export earnings were $32.07 billion.

Experts said the country’s export earnings continued an upward trend for the last several months in the current fiscal 2021-22 even during the coronavirus pandemic, thanks to a strong rebound in apparel shipment.

The country’s export earnings stood at $35.36 billion from the ready-made garments (RMG) in July-April this fiscal, up around 36 percent over the previous fiscal. This earning was $26 billion during the same period in the 2020-21 fiscal year. 

The overall export earnings also surpassed the set target by 20.52 percent for the first 10 months of the current fiscal, according to EPB data.

A breakdown of the clothing-sector performance shows that the knitwear subsector of the RMG earned $19.24 billion from exports in the first 10 months of the current fiscal, posing a growth of 37.49 percent. 

Earnings from the export of woven garments amounted to $16.19 billion during the time, up by 34.23 percent. Home textile products are the second-largest export after readymade garments.

In the first 10 months of the current financial year, home-textile exports also recorded 39.13 percent growth to $1.33 billion.

In addition, the third-highest export income has been in agricultural processed products. 

From July-February of the current financial year, agricultural processed products worth $1.04 billion were exported. In this case, the growth has been 26.29 percent.

Meanwhile, the jute sector, which demonstrated positive growth throughout the last fiscal, recorded a 6.68 percent fall in the July-January period with earnings of $966.51 million, down from $1,035.67 million.

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