4:03 am, Sunday, 3 November 2024

Bangladesh’s exports fetch $5.10b in March

A file photo shows workers sewing clothes at a garment factory on the outskirts of Dhaka.

Bangladesh’s export earnings in the July-March period of the current financial year 2023-24 witnessed a 4.39-per cent growth, but shipments of most of the items other than readymade garment decreased.

The country’s export earnings in the nine months of FY24 increased to $43.55 billion compared with those of $41.72 billion in the same period of FY23, according to the Export promotion Bureau data released on Tuesday.

Exporters said that demands on the global markets started increasing at a very slow pace in 2024 and it would take time to reach the desired level of growth.

Bangladesh’s export earnings in March 2024 increased by 9.88 per cent to $5.10 billion year-on-year compared with those of $4.64 billion in the same month of 2023, the EPB data showed.

Export earnings from readymade garment in the nine months of FY24 fetched $37.20 billion, which is 5.53 per cent higher than the earnings of $35.25 billion in the same period of FY23.

Bangladesh Garment Manufacturers and Exporters Association president Faruque Hassan said that the overall demand for apparel products decreased on the global market in 2023 due to high inflation caused by the Russia-Ukraine war.

The sales of apparel products in the western markets started rising in 2024 and hopefully the export orders would grow in the coming months, he said.

Export earnings from woven garments grew by 0.76 per cent to $16.19 billion in July-March of FY24 compared with those of $16.11 billion in the same period of the previous financial year.

Earnings from knitwear exports grew by 9.79 per cent to $21.01 billion in the nine months of FY24 against $19.13 billion in the same period of FY23.

Bangladesh Knitwear Manufacturers and Exporters Association executive president Mohammad Hatem said that although queries from the global buyers had increased in recent months, manufacturers failed to accept orders due to low prices.

Export earnings from home textiles in the July-March period of FY24 fell by 25.98 per cent to $636.53 million compared with those of $859.94 million in the same period of FY23.

Export earnings from leather and leather goods in nine months of FY24 fell by 13.65 per cent to $794.19 million compared with those of $919.73 million in the same period of the previous financial year.

Earnings from leather-footwear exports declined by 26.68 per cent in the nine months of FY24 to $391.69 million compared with those of $534.23 million while other leather products fetched $300.10 million with a 2.68-per cent growth in the period.

Export earnings from jute and jute goods in the July-March period of FY24 declined by 5.6 per cent to $659.54 million compared with those of $698.7 million in the same period of FY23.

Export earnings from agricultural products in nine months of FY24, however, increased by 5.6 per cent to $715.84 million compared with those of $687.09 million in the same period of FY23.

Export earnings from frozen and live fish fell by 13.63 per cent to $299.2 million and the earnings from shrimp export decreased by 21.33 per cent to $197.92 million in the nine months of FY24.

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Bangladesh’s exports fetch $5.10b in March

Update Time : 06:08:17 pm, Tuesday, 2 April 2024

Bangladesh’s export earnings in the July-March period of the current financial year 2023-24 witnessed a 4.39-per cent growth, but shipments of most of the items other than readymade garment decreased.

The country’s export earnings in the nine months of FY24 increased to $43.55 billion compared with those of $41.72 billion in the same period of FY23, according to the Export promotion Bureau data released on Tuesday.

Exporters said that demands on the global markets started increasing at a very slow pace in 2024 and it would take time to reach the desired level of growth.

Bangladesh’s export earnings in March 2024 increased by 9.88 per cent to $5.10 billion year-on-year compared with those of $4.64 billion in the same month of 2023, the EPB data showed.

Export earnings from readymade garment in the nine months of FY24 fetched $37.20 billion, which is 5.53 per cent higher than the earnings of $35.25 billion in the same period of FY23.

Bangladesh Garment Manufacturers and Exporters Association president Faruque Hassan said that the overall demand for apparel products decreased on the global market in 2023 due to high inflation caused by the Russia-Ukraine war.

The sales of apparel products in the western markets started rising in 2024 and hopefully the export orders would grow in the coming months, he said.

Export earnings from woven garments grew by 0.76 per cent to $16.19 billion in July-March of FY24 compared with those of $16.11 billion in the same period of the previous financial year.

Earnings from knitwear exports grew by 9.79 per cent to $21.01 billion in the nine months of FY24 against $19.13 billion in the same period of FY23.

Bangladesh Knitwear Manufacturers and Exporters Association executive president Mohammad Hatem said that although queries from the global buyers had increased in recent months, manufacturers failed to accept orders due to low prices.

Export earnings from home textiles in the July-March period of FY24 fell by 25.98 per cent to $636.53 million compared with those of $859.94 million in the same period of FY23.

Export earnings from leather and leather goods in nine months of FY24 fell by 13.65 per cent to $794.19 million compared with those of $919.73 million in the same period of the previous financial year.

Earnings from leather-footwear exports declined by 26.68 per cent in the nine months of FY24 to $391.69 million compared with those of $534.23 million while other leather products fetched $300.10 million with a 2.68-per cent growth in the period.

Export earnings from jute and jute goods in the July-March period of FY24 declined by 5.6 per cent to $659.54 million compared with those of $698.7 million in the same period of FY23.

Export earnings from agricultural products in nine months of FY24, however, increased by 5.6 per cent to $715.84 million compared with those of $687.09 million in the same period of FY23.

Export earnings from frozen and live fish fell by 13.63 per cent to $299.2 million and the earnings from shrimp export decreased by 21.33 per cent to $197.92 million in the nine months of FY24.