The country’s export earnings witnessed a rapid growth which increased by 41 percent to stand at $4.85 billion in January over the same period of the previous year despite the corona pandemic.
The country’s export earnings continued upward trend for last several months in the current fiscal year 2021-22 even during the coronavirus pandemic, thanks to a strong rebound in apparel shipment.
The export earnings witnessed a rapid growth and increased by 41 percent to stand at $4.85 billion in January over the same period of previous year despite coronavirus pandemic.
Export earnings made another record as it grew 48.27 percent to hit $4.90 billion in December 2021.
The previous records were $4.72 billion in October in 2020, $4.16 billion in September and $4.04 billion in November in 2021, according to data from the Export Promotion Bureau.
Experts said export earnings are setting newer records almost every month due to higher shipment of goods, especially garment items.
The country’s export earnings stood at $3.43 billion from merchandise shipments in January last year, according to provisional data released by Export Promotion Bureau (EPB). The earnings also surpassed the target set for the month in January 2022 by 19.73 percent.
Besides, the country's overall merchandise exports during the first seven months of the current fiscal year 2021-22 also rose to $29.54 billion, up 30.34 percent over the same period of the previous fiscal. This earning was $22.67 billion during the July-January period in the 2020-21 fiscal year.
The overall export earnings also surpassed the set target by 16.17 percent, according to EPB data.
Out of the total $29.54 billion worth of export income during the July-January period, the RMG sector fetched $23.98 billion, recording a 30.30 percent growth compared to the corresponding period of last fiscal.
A breakdown of the clothing-sector performance shows that the knitwear subsector of the RMG earned $13.27 billion from exports, posing a growth of 32.89 percent.
Earnings from the export of woven garments amounted to $10.71 billion in the last five months, up by 27.23 percent. Home textile products are the second-largest export after readymade garments.
In the first seven months of the current financial year, home-textile exports also recorded 30.1 percent growth to $831.31 million.
In addition, the third-highest export income has been in agricultural processed products.
During July-January of the current financial year, agricultural processed products worth $846.90 million were exported. In this case, the growth has been 26.63 percent.
Meanwhile, the jute sector which demonstrated positive growth throughout the last fiscal, recorded a 9.13 percent fall in the July-January period with earnings of $695.73 million, down from $765.63 million.