Bangladesh’s overall earnings from exports in March have grown 12.59 per cent year-on-year (Y-o-Y) to US$ 3.07 billion even as it missed the target by 10.79 per cent.
This was underlined in media reports which cited data from the country’s Export Promotion Bureau (EPB) in this regard, while underlining that apparel items, which accounts for more than 84 per cent in national exports a year, experienced a 2.55 per cent negative growth in the first 9 months even as between July and March of the current fiscal year, Bangladesh earned US$ 23.48 billion from apparel shipments, which was only 2.55 per cent lower than earnings from the items in the corresponding period of last fiscal year.
Demand for woven items, reportedly, declined while knitwear export continued the good run even as of the total earning from apparels, US$12.65 billion, came from knitwear (which also registered a 5.85 per cent growth Y-o-Y) while earning from woven shipments was US$10.83 billion (which declined by 10.83 per cent Y-o-Y).
Meanwhile, speaking to the media, Managing Director of Plummy Fashions, Md. Fazlul Hoque underlined that considering the crisis worldwide, earning from the apparel shipment was highly satisfactory.
I am hopeful apparel shipment will get better soon if the current trend continues, reportedly, stated Fazlul even as the outgoing President of the apex garment makers’ body (the Bangladesh Garment Manufacturers and Exporters Association), Dr. Rubana Huq, on her part, reportedly, termed the earnings from apparel shipment in the July-March period, “depressing.”