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Half-yearly exports jump 14pc to $20b

  • Staff Correspondent
  • 4 January, 2019 12:00 AM
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Half-yearly exports jump 14pc to $20b

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Country’s export earnings in the first half of the current financial year posted a year-on-year growth of 14.42 per cent to $20.4 billion from $17.9 billion in the same period a year ago, riding on a robust growth in garment exports.

The figure also exceeded the half-yearly target by 9.13 per cent, according to Export Promotion Bureau (EPB) data released on Thursday.

In December alone, the country’s exports receipts stood at $3.35 billion, a 2.18 per cent growth over the same month a year ago. The monthly target was, however, missed by 3.49 per cent.

Readymade garment sector, which contributes more than 80 per cent of Bangladesh’s total export income, fetched $17.08 billion during the July-December period. The amount is 15.65 per cent higher than the same period a year ago. Knitwear exports stood at $8.6 billion, woven brought $8.4 billion while home textile logged in $408 million during the six-month period, according to the EPB data.

Although the July-December earnings surpassed the target, export growth in two major export earning sectors—-jute and leather- remained in the negative territory.

Leather and leather goods sector exported goods worth $532 million, which is 1.68 per cent lower than the strategic target and 14.18 per cent lower than the same period a year ago.

Jute and Jute goods sector earned $421 million in the first half of this fiscal, which is 19.44 per cent lower than the target and 26.66 per cent lower than the same period of previous fiscal.

Frozen and live fish that has been going through a bad time has posted positive growth in the first half of this financial year. Exporters shipped frozen and live fish worth $314 million against the strategic target of $243 million set for the period.

Among other major sectors, exports of agricultural products posted a sharp rise by a 66.8 per cent to $517.64 million while export earnings from the pharmaceuticals sector rose by 38.42 per cent to $107 million

and plastic goods by 21 per cent to $56.54 million.

Bangladesh’s exports income stood at earned $36.6 billion in 2017-18 fiscal. Of the total exports, $30.6 billion came from the RMG sector.

The total export target for the current 2018-19 fiscal has been fixed at $39 billion, which is four per cent higher than last year’s target.