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The Financial Express

Bangladesh's exports fall 7.84pc short of July-August target

| Updated: September 20, 2021 11:20:43


A general view of Chittagong Port — File photo A general view of Chittagong Port — File photo

The country's earnings from merchandise exports fell short of the strategic target by 7.84 per cent to reach $6.85 billion in the July-August period this fiscal.

Total export receipts in the first two months of fiscal year 2021-22 also showed a marginal downtrend (0.31 per cent) in the corresponding period last fiscal.

According to the Export Promotion Bureau (EPB) data, Bangladesh fetched more than $6.87 billion through merchandise shipment during July-August period in FY21.

However, export earnings witnessed 14-per cent growth this August over the corresponding month of FY21, although earnings fell short of the month's strategic target by 8.84 per cent.

Such downtrend in the aggregate export earnings was primarily for a decline in earnings from shipment of ready-made garment (RMG) products, specially woven garments, during the July-February period of FY22, according to the EPB.

Total export receipts from RGM products-knitwear and woven items-during the July-February period fell by 6.19 per cent to $5.64 billion than that of $5.71 billion during the matching period last fiscal.

Of the RMG items, export receipts from woven garments during the July-August period of the current fiscal fell by 10.90 per cent to reach $2.38 billion.

During the first two months of last fiscal, the EPB said, woven garments fetched over $2.59 billion.

However, export value from knitwear items registered a 4.63 per cent to $3.25 billion against that of about $3.11 billion in the same period last fiscal.

Earnings from home textile exports saw a 4.18 per cent growth to reach $175.06 million in the first two months over the same period last fiscal.

Export proceeds from jute and jute goods exports also registered a sharp fall by 34.66 per cent over the corresponding period last fiscal.

Exports receipts from jute and jute goods were $127.67 million this July-August period compared to $195.39 million during the same period last fiscal.

Earnings from agro-product exports, however, posted 16.25 per cent growth as proceeds were recorded at $207.23 million in the first two months of FY22 from $178.27 million in the same period of FY21.

On the other hand, export value from leather and leather goods also grew by 12.91 per cent, with earnings from the sector amounting to $174.71 million during the July-August period over that of $154.74 million in the same period last fiscal.

However, earnings from frozen and live fish were $87.97 million in the first two months, reflecting nearly 18-per cent growth over the same period last fiscal, the EPB data revealed.

The country's export earnings sustained a downtrend in recent months mostly due to the fallout of the Covid-19 pandemic.

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