Bangladesh’s export earnings in October 2024 recorded a double-digit increase of 20.65 per cent, reaching $4.13 billion.

According to data from the Export Promotion Bureau (EPB) released on Sunday, Bangladesh earned $3.42 billion in October 2023.

EPB data further revealed that the country’s total export earnings over the first four months (July to October) of the current fiscal year 2024-25 grew by 10.80 per cent, amounting to $15.78 billion.

During the July-October period of FY 2023-24, Bangladesh earned $12.28 billion, according to EPB data.

The EPB data showed that the readymade garment sector fetched $12.81 billion in the July-October period of FY25, marking a year-on-year growth of 11.38 per cent.

In the four months of FY24, export earnings from the RMG sector amounted to $11.50 billion.

‘I have doubts about the export earnings growth shown in the EPB data, as a significant number of RMG factories experienced production losses in October due to labour unrests,’ Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association, said.

On the other hand, the growth might be accurate, as the past year’s export earnings figures were inflated, and the government has recently revised the data based on actual shipment records, he said.

EPB vice-chairman Md Anwar Hossain said that the export earnings growth in October was not unrealistic, as production in most of the factories remained uninterrupted, with only a few units affected by labour unrests.

The data showed that the export earnings from knitwear sub-sector in July-October of FY25 increased by 12.08 per cent to $7.20 billion, while earnings from woven garments fetched $5.60 billion, reflecting a 10.48-per cent increase over the corresponding period.

In October 2024, earnings from readymade garment increased by 22.80 per cent to $3.3 billion compared with those of $2.68 billion in the same period of 2023.

The home textile sub-sector registered 1.31 per cent growth in exports in the July–October period, with earnings reaching $254.94 million.

According to the EPB data, exports of jute and jute goods in July-October totalled at $264.81 million, showing a decline of 13.70 per cent.

Earnings from agricultural products such as vegetables, fruits and dry foods grew by 6.38 per cent to $385.48 million over the past four months of FY25.

Export earnings from engineering products increased by 3.14 per cent to $163.03 million in July-October of FY25.

Exports of frozen and live fish rose by 10.59 per cent, amounting to $153.18 million in the period.

Earnings from leather and leather goods exports totalled at $372.24 million, registering a growth of 9.82 per cent in the July-October period of FY25.

Pharmaceutical exports amounted to $69.85 million, an increase of 4.38 per cent in the period.

Exports of non-leather footwear also rose by 36 per cent, reaching $167.11 million.

The EPB data also showed that exports of plastic products grew by 36.19 per cent, reaching $102.84 million in the four months of FY25.