Thanks to increased apparel shipments, Bangladesh recorded an export rebound in May after registering a decline in the two preceding months.
This is as per reports, which cited data from the country’s Export Promotion Bureau (EPB) in this regard.
Reports citing the EPB data maintained, in May, exporters in Bangladesh, shipped goods worth US $ 4.84 billion, which was US $ 3.83 billion in the same month a year ago, marking 26.6 per cent year-on-year increase even as in the July-May period of the fiscal year of 2022-23, overall exports increased 7.1 per cent year-on-year to US $ 50.5 billion.
However, except for readymade garments, all major export-earning sectors registered a decline.
The EPB data further showed in the 11 months to May, garment exports grew 10.67 per cent year-on-year to US $ 42.6 billion even if as per the BGMEA, garment exports registered 28 per cent year-on-year increase in May with garment exporters fetching US $ 4.05 billion from apparel shipments.
Meanwhile, speaking to media, BGMEA Vice President Md Shahidullah Azim reportedly said compared to April, export receipts grew 13 per cent in May while also adding there hasn’t been any improvement in the flow of work orders.