The country's merchandise shipments again entered the negative territory in October last, threatening the process of recovery noticed during the past three months.
The single month income in October 2020 fell by 4.08 per cent to $2.94 billion, which was $3.07 billion in October 2019, according to the Export Promotion Bureau (EPB) data.
The earnings also missed the target by 6.03 per cent set for the month.
The overall export earnings stood at $12.84 billion marking a meagre 0.97 per cent growth during the July-October period of the current fiscal year of 2020-21 over that of the same period last fiscal.
Bangladesh fetched $12.72 billion during the same period of FY 2019-20.
The first four months' export earnings in FY'21 surpassed the target by 0.38 per cent, according to EPB data.
The export recovery has started since June and continued until September last.
The single-month income in August and September 2020 grew by 4.32 per cent and 3.53 per cent year-on-year to $2.96 billion and $3.01 billion respectively.
The July receipts grew by 0.59 per cent year-on-year to $3.91 billion after a continuous fall in shipments in the previous months of the current calendar year amid the coronavirus outbreak.
Exporters noted that the gradual reopening of western markets and the revival of majority of the previously suspended or cancelled ready-made garment (RMG) work-orders contributed to the turnaround in the last three months.
They, however, appeared to be uncertain about the coming months as the Covid situation has started deteriorating in the country's largest export destinations, including the European Union (EU).
Many countries, especially the USA, Canada, the UK, Germany, France, Italy, Spain, the Netherlands, Ireland, Denmark, Belgium, Portugal, and Greece imposed new restrictions on tackling the second wave of the deadly virus, they added.
Many of the countries have re-imposed restrictions such as national and partial lockdown, night time curfew with the surge in new Covid-19 cases.
The RMG sector that contributed the lion's share of the total exports fetched $10.45 billion in proceeds, marking a 1.2 per cent negative growth during the first four months of FY 21.
It also missed the target set for the period by 0.89 per cent.
The country fetched $2.32 billion from RMG exports in October'20.
RMG earnings were $3.24 billion in July, $2.46 billion in August and $2.41 billion in September last.
Export earnings year-on-year declined by 20.14 per cent in March, 85.25 per cent in April, 62.06 per cent in May and 6.63 per cent in June, according to the BGMEA data. The country earned $5.80 billion from knitwear exports in July-October of FY'21, registering a growth of 4.76 per cent, which was $5.53 billion in the corresponding period of last fiscal.
Woven garments exports, however, declined by 7.76 per cent to $4.64 billion during the first four months of this fiscal from $5.03 billion in the same period of last fiscal, according to data.
Knitwear export earnings surpassed the target set for the months by 11.32 per cent, but woven export missed the target by 12.83 per cent.
Besides, earnings from home textile exports grew by 47.86 per cent to $354.25 million. The achievement exceeded the target by 18.24 per cent.
When asked, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) former vice president Shahidullah Azim said the sector was on a recovery track in last two to three months due to the revival of withheld/cancelled orders.
Now due to the second wave of Covid in the western countries, the volume might drop in the coming months, he said, adding buyers might hold back placing new and existing orders.
"We have already missed a season for sweater items and are now in a dilemma over what is going to happen," he told the FE on Monday.
BGMEA president Dr Rubana Huq said, "Our exports depend on the demand from the brands and retailers."
She said they need the policy support in case they are hit by adversity.
Explaining the policy supports, she demanded moratorium up to one year, extension of tenure and the blocked account for a few years for members, who have been impacted by bankruptcy and non-payment by buyers so that their regular lifeline cannot be hampered.
Meanwhile, the jute sector that demonstrated a positive growth throughout the last fiscal also maintained the uptrend.
Jute and jute goods export earnings increased by 39.52 per cent to $438.78 million during July-October of this fiscal, up from $314.49 million over the corresponding period of last fiscal.
Agricultural products' earnings grew by 0.37 per cent to $358.82 million during the first four months of FY 21.
Export earnings of frozen and live fish also increased by 5.45 per cent to $191.75 million.
Pharmaceuticals income stood at $56.14 million, marking a 19.83 per cent growth.
On the other hand, leather and leather goods earned $283.2 million, registering a 10.63 per cent decline.
Plastic products witnessed a negative growth of 13.02 per cent to $36.68 million during July-October period, according to the EPB data.
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