Bangladesh has earned USD 1707.37 crore in the first five months (July-November) of the ongoing fiscal year which is 12.07 percent higher than the target amount of USD 1523 crore, thanks to the readymade garments sector.
During the same period in 2017-18 fiscal the export earnings was USD 1456 crore. It means the earning is 17.24 percent higher than the previous fiscal year.
According to the available data of Export Promotion Data (EPB) the earning in November was USD 342 crore which is 11.94 percent higher than the previous year. Last year, the earning was USD 305 crore.
The earnings from the RMG during the period was 1418.62 crore, the highest one as usual. The target for the sector was USD 1276.96 crore.
The export of agri-products saw a huge jump in the first five months of the running fiscal with 77 percent growth. The export earning from the sector is USD 45.86 crore.
The growth for plastic products is 30 percent than the same period of the last fiscal. The earnings from the plastic products is USD 4.87 crore which is 24.81 percent higher than the target.
But the earnings from the jute and jute products, and leather and leather good saw a negative growth of 22 and 16 percent respectively in the first five months of the current fiscal.
Jute and jute goods fetched USD 35.15 crore while leather and leather goods bagged USD 43.47 crore.
In the last fiscal (2017-18) Bangladesh earned USD 3666.82 crore from exporting various types of goods. Of the total number, USD 3061 crore came from the RMG sector.
In 2018-19 fiscal, the total export target has been fixed at USD 3900 crore, which is four percent higher than the previous year.
The export target was set after considering the world economic outlook, policy changes at important export destinations, stakeholder feedback, supply chain capacity, changes in exchange rates, and global business trends.
Of the total target, USD 3269 billion or 83.49 percent is expected to come from the apparel sector.
Talking to UNB a senior official of EPB said that the target will be achieved easily as the exporters of the country especially the RMG sector has the capacity to suppress the target.
He said that the government has ensured a business-friendly environment in the country so that manufacturers can conduct business without interruption and hindrance.