The single month export earnings in April, 2021 grew by over 500 per cent to $3.13 billion mainly due to reopening of major importing countries’ economies that helped the recovery of readymade garment shipments.
Bangladesh fetched US$520 million in April, 2020, according to Export Promotion Bureau (EPB) data released Sunday.
Exporters and experts termed the single month growth ‘unusual’ saying almost all RMG factories’—the lion foreign currency earner-- production remained suspended in April last year while exports were also disrupted significantly due to the Covid-induced lockdown in the country and major importing countries.
The country's overall goods export earnings during the first ten months of the current fiscal year (FY), 2020-21, stood at $32.07 billion, marking an 8.74 per cent growth compared to that of the corresponding period of last fiscal.
The July-April earnings, however, missed the target by 4.63 per cent, according to Export Promotion Bureau (EPB) data.
Bangladesh fetched US$ 29.49 billion during July-April period of 2019-20 fiscal.
RMG sector fetched $26 billion in proceeds during the first ten months of FY 21, marking a 6.24 per cent growth. It, however, missed the target set for the period by 6.16 per cent.
The country earned $13.99 billion from knitwear exports in July-April of FY 21, registering a 15.34 per cent growth, which was $12.13 billion in the corresponding period of last fiscal.
Woven garment exports, however, declined by 2.71 per cent to $12 billion during the period, from $12.34 billion during the corresponding period of last fiscal, data showed.
Earnings from home textile exports grew by 54.12 per cent to $956.93 million. The achievement exceeded the target by 21.53 per cent.
Meanwhile, earnings from exports of jute and jute goods increased by 30.88 per cent again reached billion-dollar marks with earnings worth $1.03 billion during the July-April period of this fiscal, up from $791.33 million over the corresponding period of last fiscal.
Agricultural products' export earnings grew by 9.1 per cent to $824.59 million during July-April of FY 21.
Export earnings of frozen and live fish decreased by 4.17 per cent to $394.73 million.
Pharmaceuticals export income stood at $128.73 million, marking a 12.22 per cent growth.
On the other hand, leather and leather goods earned $760.92 million, registering an 8.56 per cent rise.
Plastic products witnessed a growth of 11.61 per cent to $96.04 million during the July-April period of FY 21, according to the EPB data.