Bangladesh’s export earnings in November posted 0.76 per cent year-on-year growth even as the country missed the target by 8.2 per cent, maintained media reports citing figures from the Export Promotion Bureau (EPB).
Exports in November reportedly fetched around US $ 3.1 billion, slightly up from a year earlier, but missed the target even as readymade garment, which fetches more than 84 per cent of total export receipts, reportedly posted a decline.
In November, the growth of knitwear export was 4.9 per cent, while the export of woven garments fell by 10.48 per cent as overall export of readymade garments fell for the second consecutive month in November year-on-year.
As per EPB figures, earnings from apparel exports in the 5 months of FY21 fell by 1.48 per cent to US $ 12.89 billion from US $ 13.08 billion in the same period of FY20.
The EPB data showed that earnings from readymade garment exports in the 5 months of FY21 fell by 1.48 per cent to US $ 12.89 billion from US $ 13.08 billion in the same period of FY20 even as the country’s garment exporters underlined that consequent to reinstatement of cancelled orders by global buyers, exports witnessed a meagre growth in August and September before marking a decline again in October due to the second wave of the coronavirus pandemic.
In the July-November period, around 45 per cent earning reportedly came from knitwear export, while the contribution of overall apparel export, including woven and knitwear, was 81 per cent.
Further, of the total earnings from the garment export in July to November, US $ 7.13 billion reportedly came from knitwear (knitwear registered 4.8 per cent year-on-year growth), while woven items reportedly fetched US $ 5.75 billion, registering a decline of 8.29 per cent.
Meanwhile, shipment of jute and jute goods in July to November reportedly rose 36.72 per cent year-on-year to US $ 553.43 million while thanks to the increased use of bed sheets (in hospitals), medical gowns and curtains, home textile exports also reportedly grew significantly during the period.
In July-November of FY21, export earnings from leather and leather goods reportedly fell by 8.32 per cent to US $ 358.57 million from what was US $ 391.09 million in the same period of FY20.