Exports rose by 8.74pc to $32.07 billion in July-April
Exports from Bangladesh rose by 8.74 per cent to $32.07 billion between July and April in the current fiscal year (FY) 2020-21 compared the same period in the last FY, according to data of the Export Promotion Bureau.
Bangladesh earned $3.13 billion in April from exports, up six times from the same month last year as shipment of readymade garment (RMG) rebounded following new normal situation in the post Covid Europe and the United Sates.
Exports in April last year was as low as $0.52 billion, the lowest in the Bangladesh history, as the factories were closed due to lockdown and brands cancelled orders in the wake of the outbreak of coronavirus across the world.
In April last year, the earnings from the garment sector, which contributes about 84 per cent to the national exports, was only $0.37 billion.
However, despite the huge rise in the shipment in April this year, the earnings remained 6.44 per cent below the monthly target of $3.35 billion.
Between July and April, the first 10 months of the current fiscal year, the receipts from the garment shipment were up 6.24 per cent to $26 billion compared to the same period last FY amid the raging Covid-19.
Of the amount, $13.99 billion came from knitwear exports, which registered 15.34 per cent growth compared to the same period last year. However, earnings from the woven exports fell by 2.71 per cent to $12 billion.
The shipment of knitwear items is increasing as people are spending more time indoors. Because of the pandemic, the demand for woven garment such as formal shirts and trousers has fallen.
Woven exports declined by more than 10 per cent during most of the months in the last one year. April saw the lowest decline during the period, in an indication that the segment is rebounding thanks to gradual reopening of stores and offices.
The shipment of jute and jute goods and leather and leather goods rose. Jute and jute goods exports surged 30.88 per cent to $1.03 billion during the 10-month period compared to the same period last FY.
The earnings from jute and jute goods shipment crossed $1-billion mark for the first time in nearly seven years, riding on increased shipment to Middle Eastern countries.
Earnings from leather and leather goods shipment rose 8.56 per cent to $760.92 million between July and April against the same period last FY.
Exports of agricultural products grew 9.1 per cent to $824.59 million.
The shipment of pharmaceuticals, rubber goods, bicycle, plastic goods, carpets and footwear rose, while that of ceramics, ships and furniture fell.