RMG leads the way as B’desh registers 9.22% increase in export earnings

The export earnings of the Bangladesh market is on the rise. According to data released by the Export Promotion Bureau (EPB) recently, Bangladesh registered a 9.22 per cent increase in export earnings in the first 10 months of the current fiscal year as compared to the export earnings of the corresponding period in the last fiscal year, which also exceeded the target of US$27.11 billion set for the 10-month period.

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Of Bangladesh’s total export earnings of US$27.63 billion in the first 10 months of the current fiscal, earning from readymade textile products accounted for more than 80 per cent, standing at a whopping US$22.63 billion, underlined the EPB data.

“The figures for the exports earning for the first quarter of the current fiscal was just 0.8 per cent. It shot up to 7.8 per cent by the end of the second quarter. In 10 months, it has touched about 9.5 per cent,” said Finance Minister AMA Muhith, who believes Bangladesh exports are gaining as the economies of the US, Europe and other developed nations are gaining momentum.

“By the end of the financial year, the figures will exceed 10 per cent,” Muhith claimed.

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Analysis of the EPB data revealed that during the July-April period, woven items generated the highest income, amounting to around US$11.89 billion, while knit products generated US$10.74 billion during the same period.

During these 10 months, knit textile exports registered a 7.29 per cent growth, while woven clothes registered a 4.25 per cent increase.