Exports earnings from all merchandise witnessed a positive growth of 15.63 percent year-over-year basis to $4.11 billion in November in the ongoing fiscal year of 2024-25 while RMG export alone fetched 3.36b. This was $3.56 billion in the same period of the last fiscal year.
Readymade garment (RMG) sector, bagged $3.3 billion during this period fetching a positive growth of 16.25 percent year on year on basis against 2023, This was $2.84 billion last year, according to data from Export Promotion Bureau (EPB) released on Wednesday.
EPB provided this data, reflecting real-time shipment updates of the National Board of Revenue (NBR). As per EPB data, Bangladeshi exporters shipped goods worth $19.9 billion by November which was $17.81 billion in the first five months of FY24.
It shows a year on year growth of 11.76 percent in July-November period of 2024-25 In that period, export earnings from almost all major sectors witnessed positive growth.
EPB data also stated that in July-November period, the RMG sector earned $16.11 billion from its global exports which was 12.34 percent higher than the $14.34 billion earned in FY24.
In this period, knitwear earned $8.95 billion, 12.23 percent higher than $7.97 billion, and woven earned $7.17 billion, 12.48percent higher than $6.37 billion in previous FY24.
After repeated narrow growths for a long time, home textiles saw a positive growth of 5.03 percent to $326.83 million in July-November period of FY25, up from $311.19 million in the same period last fiscal.
In the first five months of FY25, export earnings from agricultural products increased by 8.34percent to $495.38 million, up from $457.25 million in the same period last fiscal year.
However, export receipts from jute and jute goods experienced a negative growth of 9.99 percent to $341.70 million, down from $379.62 million in July-November period of last fiscal FY24, EPB data stated.
Leather and leather goods experienced positive growth of 7.61 percent to $466.39 million, up from $433.42 million in the first five months of FY24.
Export of engineering products, fetched a positive growth of 5.70 percent to $205.80 million, up from $194.71 million in last FY, data shows.
EPB vice chairman Anwar Hossain said significant dynamics behind the growth were peak season for RMG shipment before Christmas, Thanks Giving etc, completion of backlog orders and year-end inventory management.
Hossain further said although private investment was sluggish, the economy was not at standstill, and the growth indicated a favorable situation.
"Moreover, we have the capacity and infrastructure to meet the buyer's demands." He also said that buyers trusted and were committed to Bangladeshi manufacturers. They hoped that exports would remain positive in the coming days as the country was regaining stability.
