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Bangladesh’s export earnings in November 2023 fell by 6.05 per cent year-on-year to US$4.78 billion, according to Export Promotion Bureau (EPB) provisional data.
The decline was driven by a significant drop in shipments of ready-made garments (RMG), the country's main foreign currency earner.
The RMG sector fetched $4.05 billion in November, down by 7.45 per cent from the same month last year.
Apparel shipments were particularly weak in the knitwear subsector, which generated $2.31 billion, down by 3.18 per cent.
Earnings from woven garments also fell by 12.59 per cent to $1.73 billion.
The single-month overall earnings in November also fell short of the target by 8.94 per cent, according to the EPB.
However, the overall export earnings in July to November of fiscal 2023-24 recorded a sluggish growth of 1.30 per cent to $22.23 billion, compared to $21.94 billion during the same period of fiscal 2022-23.
The overall earnings fell short of the $24.49 billion target by 9.23 per cent in the July-November period of the current fiscal year.
munni_fe@yahoo.com