Bangladesh exports record $4.73billion in October

Bangladesh has registered a record $4.73 billion export earnings in October this year — a 60.37 per cent year-on-year growth as the global economy shows signs of recovery from the effects of the coronavirus pandemic.

Last year in October, Bangladesh's export was $2.95 billion, according to the Export Promotion Bureau (EPB).
Meanwhile, during the July-October period of the current fiscal year 2021-22, Bangladesh earned $15.75 billion, which was 22.62 per cent higher compared to $12.84 billion in the same period of last year.

The apparel sector earned $11.23 billion with 20.78 per cent growth. The knitwear sector earned $6.23 billion with 24.27 per cent growth.

Woven sector earning rose 16.41 per cent to $4.99 billion.

"The international market of ready made garments is robust now. Our orders have increased much. It appears that the apparel export outlook will remain buoyant for the next few months," Mohammad Hatem, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said.

Readjusting the prices of clothes after a nearly 40 per cent hike in yarn prices contributed to growth in Bangladesh's garment exports, he said.

According to the BKMEA president, ready-made garment prices should increase by at least 20 per cent in the new readjustment. Although the rise did not reach that level, prices have somewhat increased.

"China and Vietnam are facing some troubles. Some orders are being shifted to Bangladesh from there," Hatem said, calling for policy support from the government to keep up the robust growth.

SZA