Export earnings registered a whopping 20.65-percent growth in October 2024, riding on the readymade garments sector despite labour unrest.
Bangladesh fetched US$ 4.13 billion in October this year compared to $3.42 billion in corresponding month of last year, according to Export Promotion Bureau (EPB) data released on Sunday.
The RMG sector alone fetched $3.29 billion during the month under review, recording a 22.80-percent growth from $2.68 billion in October 2023.
EPB data also revealed that overall export trade of the country during the first four months of the current fiscal year (FY) from July to October grew 10.80 per cent to $15.78 billion.
However, the new format of data didn't show the period's target.
During the July-October period of FY 2023-24, Bangladesh earned $14.24 billion, the EPB data showed.
Of the total US$15.78 billion, RMG fetched US$12.81 billion during the July-October period of FY2024-25, marking a 10.38 per cent year-on-year growth.
The knitwear sub-sector earned US$7.20 billion, registering a 12.08 per cent growth and woven wears fetched US$5.60 billion, marking a 10.48-percent growth over the corresponding period, according to the EPB data.
Home textile witnessed a growth of 1.31 per cent during the last July-October period, with earnings amounting to $254.94 million.
As usual, apparel shipments overwhelmingly dominated the invoice in both cases because of lack of major breakthroughs in governmental emphasis on diversifying the export basket and market.
Talking about the export statistics, Anwar Hossain, vice chairman of EPB, said despite unrest in the garment sector, exports in October 2024 grew about US$700 million compared to the earnings of October 2023 and the growth is not 'unrealistic'.
He attributed that production in most factories remained uninterrupted except some units because of the labour unrest.
When asked, Mohammad Hatem, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), expressed doubt over the export data, saying that a significant number of RMG factories experienced production losses in October due to labour unrest.
However, the data would be realistic to some extent, if not entirely, as the export earnings figures of the last FY were inflated and then revised based on actual shipments, he said.
According to the EPB data, exports of jute and jute goods during the period under review amounted to $264.81 million, registering a fall of 13.70-percent.
Earnings from agricultural items like vegetables, fruits and dry foods registered a growth of 6.38 per cent to $385.48 million during the last four months.
Export earnings from engineering products increased by 3.14 per cent to $163.03 million during the July-October period. Frozen and live fish exports increased by 10.59 per cent to $153.18 million.
The country received $372.24 million from the export of leather and leather goods in July-October, registering a growth of 9.72 per cent. Pharmaceutical exports fetched $69.85 million, registering a 4.38-percent growth.
Exports of footwear other than leather items also increased 36 per cent to $167.11 million.
The EPB data also showed that exports of plastic products posted a 36.19-percent growth, reaching $102.84 million.
Bangladesh in the last fiscal year bagged $44.46 billion in earnings from merchandise exports, riding on readymade garments.
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