Export earnings record double-digit growth in October

Single-month export earnings last October recorded a double-digit growth of 20.65 per cent to US$ 4.13 billion, compared to US$3.42 billion the same month last year.

According to Export Promotion Bureau (EPB) data released on Sunday, the overall export trade of the country during the past four months of the current fiscal year (FY) from July to October marked a growth of 10.80  per cent to US$15.78 billion.

However, the new format of data didn't show the target for the period.

During the July-October period of FY 2023-24, Bangladesh earned US$ 14.24 billion, the EPB data showed.

Out of the total US$15.78 billion, readymade garments (RMG) fetched US$12.81 billion during the July-October period of the 2024-25 fiscal marking an 11.38 per cent year-on-year growth.

The knitwear sub-sector earned US$7.20 billion in a 12.08 per cent growth and woven wear fetched US$5.60 billion, marking a 10.48 per cent growth over the corresponding period, according to the EPB data.

Home-textile subsector witnessed a growth of 1.31 per cent during the last July-October period, with earnings amounting to $254.94 million.

As usual, apparel shipments overwhelmingly dominated the invoice in both cases because of a lack of major breakthroughs in governmental emphasis on diversifying the export basket and market.

According to the EPB data, exports of jute and jute goods during the period under review amounted to $264.81 million, registering a fall of 13.70 per cent.

Earnings from agricultural items like vegetables, fruits and dry foods, however, registered a growth of 6.38 per cent to $385.48 million during the last four months.

Export earnings from engineering products increased by 3.14 per cent to $163.03 million during the July-October period.

Frozen and live fish exports increased by 10.59 per cent to $153.18 million.

The country received $372.24 million from the export of leather and leather goods in July-October, registering a growth of 9.82 per cent.

Pharmaceutical exports fetched $69.85 million, in a 4.38 per cent growth.

Exports of footwear other than leather items increased 36 per cent to $167.11 million.

The EPB data also showed that exports of plastic products posted a 36.19 per cent growth, reaching $102.84million.

Bangladesh in the last fiscal year bagged $44.46 billion in earnings from merchandise exports, riding on readymade garments.

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