The single month export earnings in April’24 recorded a negative growth of about 1.0 per cent to reach US$3.91 billion, Export Promotion Bureau (EPB) data on Thursday revealed.

April’24 earnings also fell short of target worth US$4.70 billion set for the month by 16.78 per cent.

The country’s overall export earnings during the past ten months of the current fiscal year (FY) from July to April, however, marked a growth by 3.93 per cent to US$47.47 billion.

And during the July-April period of FY 2022-23, Bangladesh earned US$45.67 billion, the EPB data showed.

The earnings also fell 6.87 per cent short of the target set for the period.

Out of the total US$47.47 billion, readymade garment (RMG) fetched US$40.49 billion during the July-April period of 2023-24 fiscal marking a 4.97 per cent year-on-year growth.

US$22.87 billion came from knitwear sub-sector that marked 9.11 per cent growth and woven sub sector fetched US$17.61 billion which was almost same to the earnings of corresponding period.

On the downside, the home-textile subsector witnessed a decline of 25.32 per cent during the July-April period of FY ’24, with earnings amounting to $702.56 million.

When asked Mohammad Hatem executive president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), opined that it was expected April would make less shipments due to more than a week of Eid holidays.

Mr Hatem said that work orders are coming to Bangladesh in recent months but still these are not as expected level.

“But we can’t receive all the work orders as buyers are offering prices that are below the cost of production,” he noted.

Fazlul Hoque managing director of Plummy Fashions Ltd said in recent times China is more desperate than Bangladesh to grabbing the work orders and it is offering lower prices.

In contrast, Bangladesh has no chance to be desperate like China as recent wage hike, utility charges and other costs have pushed up the production cost, he noted adding that even the forecast also gives the indication of further hike in gas prices.

According to the EPB data, exports of jute and jute goods during July-April period stood at $716.44 million, recording a fall of 7.05 per cent.

Export earnings from engineering products slightly decreased by 0.04 per cent to $436.35 million during the period while frozen and live fish exports decreased 13.34per cent to $321.93 million.

Bangladesh received $872.45 million from the export of leather and leather goods in July-April, registering a negative growth of 13.32 per cent.

Pharmaceutical exports fetched $169.62 million, registering a 17.25 per cent growth.

Earnings from agricultural items like vegetables, fruits and dry foods, however, however, registered a growth of 6.12 per cent to $774.49 million during the first ten months.

Exports of footwear other than leather items also increased 8.71 per cent to $425.15 million.

The EPB data also showed that exports of plastic products witnessed a 17.87 per cent growth, reaching $201.09 million.