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Exports earnings rise 13% in July-April period

The country’s export earnings rose by over 13% to US$24.65bn garment sector in the first 10 months of the current fiscal year compared to the same period of last financial year.

The earnings were slightly higher (0.40%) than the strategic target of $24.55 billion, according to the latest data released by the Export Promotion Bureau (EPB) yesterday.

In April, the earnings seen a 16% jump to $2.41bn compared $2.07bn of the same period of last fiscal year.

The RMG sector, major export earner, posted 15.4% growth to nearly $20 billion in July-April period of the current financial year, while in April it posted a 17.6% rise in the same period of last year.

In July-April period, Bangladesh exported knitwear and woven products of $9.80bn and $10.16bn respectively, registering growth of 17% and 14% for the same period of last year.

Leather and leather products marked 34% and 70% rise to $424 million and $197million respectively while frozen foods earned 23.3% growth, followed by tea 44%, vegetable 43%, ceramics products 27.75% and footwear 30%.

On the other hand, some sectors like fruits, cements, cosmetics, jute and jute goods, raw jute, terry Towel and building materials seen decline in their earnings.

“Export earnings from the readymade garment sector showed sound growth due to its peak season,??? Mohammad Hatem, first vice president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told the Dhaka Tribune.

He said knitwear is doing better which is another reason behind the upward rally.

“We will be able to exceed the export target of $30.5bn set for current financial year if there is no untoward incidents like political unrest,??? said an official of EPB.

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Source: Dhaka Tribune

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