Export earnings have bounced back riding on a sharp rise in shipments of knitwear, chemical products, jute and jute goods in May. These have fetched the country $3108.09 million, up by 112.11 per cent year-on-year.
This was the result of some relaxations of Covid-19 pandemic restrictions over the last few months.
In the July-May period of the current fiscal, the overall earning from merchandise export was $ 35180.82 million, posting a year-on-year gain of only 13.64 per cent, according to data released by the Export Promotion Bureau (EPB) on Thursday.
"Export earnings have remained almost stable because of recovery of garment shipment, which typically contributes more than 80 per cent to the national export," said an EPB official.
Business activities in the country are on the way to normalcy gradually over the last few months as the government allowed the opening of all kinds of economic activities especially due to rolling- out of Covid-19 vaccination in the country.
However, overall apparel exports were up slightly 11.1 per cent year-on-year to $28561.85 million in the July-May period this fiscal, according to the latest data of the EPB.
Of the $28561 million earnings from apparel export during July-May period, $15362 million came from the knitwear shipment, which was up by 20.55 per cent. Earnings from jute and jute products witnessed a 33.23 percent rise to $1089.81 million year-on-year, informed the EPB.
Overall chemical product exports rose marginally 33.28 per cent year-on-year to $243.59 million in the July-May period this year due to an increase in medicine sales during the pandemic. Price of raw materials of pharmaceuticals have also spiked, said an EPB official.
During the period, the export of woven items in the period of July- April declined as many people have been cooped up indoors because of the pandemic, but this fiscal, it has gained 1.80 per cent to $ 13199 million, as per data.
Home textile exports witnessed a 54.76 per cent growth to $ 1038.36 million in July-May period, showed the EPB data.
Shipment of footwear witnessed a 19.38 percent growth to $304 million, engineering products 79.21 percent to $484.49 million and ceramic products shipment rose to 5.39 per cent to $ 27.75 million.
But the shipment of shrimps and live fish exports slipped 47.13 per cent and 6.04 per cent to $5.99 million and $ 289 million respectively. Agricultural product shipment went up by 16.13 per cent to $905.99 million.
During the July-May period of the financial year, the country earned around $60.92 million from the exports of electronics goods – including refrigerator and freezer, air conditioner, LED television, washing machine, blender, rice cooker, gas stove, induction cooker, fan, hot plate, refrigerator compressor and components.
While talking to Bangladesh Post, BGMEA President Faruque Hossain said, the major markets of our RMG items are struggling with the intensity of the pandemic.
Kazi Belayet Hossain, a leader of the Bangladesh Frozen Foods Exporters Association, said frozen fish was sold for $12 to $12.5 per pound before the pandemic. Now the same quantity of frozen fish is being sold for $9 to $9.5 per pound.
"The second wave of the virus is severely affecting the export of frozen fish," he said.