The reversals in export front that Bangladesh has been suffering for some time now continue to haunt the country still after Bangladesh’s export receipts plunged by 4.79 per cent in the first 8 months of the current fiscal year vis-à-vis the corresponding period of 2018-19 fiscal year.
This was underlined by the recent data published by Bangladesh’s Export Promotion Bureau (EPB) which stated that during the July to February period of the current fiscal year, the country’s exports fell by US $ 26.24 billion compared to the matching period of the last fiscal year.
“The earnings from apparel export slumped to US $ 21.84 billion in July-February period against US $ 23.12 billion during the last year fiscal. Of the same, earnings from woven garments dropped by 5.88 per cent, from knitwear exports fell by 5.17 per cent and earnings from home textile declined by 7.47 per cent,” maintained the EPB data.
Even exports from the leather and leather goods sector took a hit in this period falling by 9.04 per cent.