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The Financial Express

March sees 12.59pc growth in export earnings

| Updated: April 07, 2021 08:29:39


March sees 12.59pc growth in export earnings

The country’s export earnings in March’21 recorded 12.59 per cent growth to US$3.07 billion compared to the corresponding month of 2020, according to Export Promotion Bureau (EPB) data.

Bangladesh fetched $2.73 billion in March’20.

The single month earnings in March, however, fell short of target by 10.79 per cent, according to EBP data released Tuesday.

The overall export earnings stood at $28.93 billion marking a meager negative growth of 0.12 per cent during the first nine months of the current fiscal year (FY), 2020-21 compared to that of the corresponding period of last fiscal.

Export earnings were $28.97 billion during July-March period of FY 2019-20.

The July-March export earnings, however, fell short of target set for the period by 4.43 per cent according to data.

After a continuous fall in export earnings since the beginning of 2020, mainly due to the Covid pandemic, exports started recovering from June, and entered positive territory from July, according to the EPB data.

Export earnings, however, witnessed negative growth during the first half of July-December period of current fiscal year and continued the negative growth till the first nine months of current fiscal.

Readymade garment (RMG) fetched $23.48 billion in proceeds, marking a 2.55 per cent negative growth during the first nine months of FY 21. It also missed the target set for the period by 5.86 per cent.

The country earned $12.65 billion from knitwear exports in July-March of FY 21, registering a growth of 5.85 per cent, which was $11.95 billion in the corresponding period of last fiscal.

Woven garment exports, however, declined by 10.83 per cent to $10.83 billion during the period from $12.14 billion during the corresponding period of last fiscal, data showed.

Earnings from home textile exports grew by 41.5 per cent to $846.45 million. The achievement exceeded the target by 19.39 per cent.

Meanwhile, earnings from jute and jute goods exports increased by 22.94 per cent to $953.57 million during the July-March period of this fiscal, up from $775.63 million over the corresponding period of last fiscal.

Agricultural products' export earnings grew by 3.43 per cent to $746.72 million during July-March of FY 21.

Export earnings of frozen and live fish decreased by 8.66 per cent to $367.74 million.

Pharmaceuticals export income stood at $119.01 million, marking a 12.04 per cent growth.

On the other hand, leather and leather goods earned $684.84 million, registering a 0.53 per cent decline.

Plastic products witnessed a growth of 1.86 per cent to $84.66 million during the July-March period, according to the EPB data.

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