Bangladesh Commerce Minister Tipu Munshi on Thursday announced the export target for fiscal year 2020-21 from exports of merchandise, set at US $ 41 billion, with 21.75 per cent growth.
Meanwhile, as per media reports, the export target for the readymade garment sector will be set at US $ 33.78 billion with a 20.88 per cent growth.
The Commerce Minister made the announcement at a virtual meeting with the stakeholders on Thursday.
Of the US $ 33.78 billion export target, woven items will fetch US $ 17.09 billion while that from knitwear products is US $ 16.70 billion.
It may be mentioned here that in FY 20, RMG exports declined by 18.12 per cent to US $ 27.95 billion in comparison to that of US $ 34.13 billion FY 19.
Of US $ 27.95 billion, woven offerings fetched US $ 14.04 billion while earnings from knitwear was US $ 13.90 billion, both registering negative growth of 18.58 per cent and 17.65 per cent, respectively, compared to the last fiscal year.