Bangladesh continued to witness a good show in exports in March 2019, fetching 9.51 per cent more than what it was during the same period last year.
The overseas shipment in March, according to the Export Promotion Bureau data, brought US $ 3.3 billion, which is 2.45 per cent more than the target set for the month. At this pace, the country is in a comfortable position to reach US $ 39 billion (current fiscal year’s target).
March’s inflows take the receipts so far in fiscal 2018-19 to US $ 30.9 billion, which means the shipments have to bring US $ 3 billion each for next 3 months to achieve the year’s target.
It is imperative to note that apparel shipments, which constitute over 80 per cent of export receipts, collected US $ 2.8 billion, which is a jump of 9.73 per cent y-o-y.
More on the same, Siddiqur Rahman, the outgoing president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said “We hope that the garment export receipts will be at least 10 per cent more than what it was there in last fiscal year even if the shipment falls for any reason.”
He also said that garment shipments are likely to be lower in May and June due to less production owing to Ramadan and Eid holidays.