Export earnings fall for four consecutive months

Staff Correspondent

6th December, 2019 01:21:16 printer

Export earnings fall for four consecutive months

Export earnings continued to follow a downward trajectory, declining by 10.70 percent year-on-year to $3.05 billion in November.

Earnings have declined for the fourth consecutive months compared to the corresponding months of the last fiscal.

Sector people said the fall is driven by the negative growth in the apparel sector, which contributes to over 84 percent of total export earnings.

According to the Export Promotion Bureau data, Bangladesh earned $3.05 billion in November, down by 10.70 percent, which was $3.42 billion in the same month last year.

The export earning saw a 17.19 percent decline to $3.07 billion in October, $2.92 billion in September; down by 7.3 percent, compared to the same month last year, while in August, the country earned $2.84 billion from exporting goods, down by 11.49 percent compared to the same month last year.

During the July-November period of this fiscal, the earning receipts slumped by 7.59 percent to $15.77 billion which was $17.07 billion in the same period in the last fiscal, according to the Export Promotion Bureau (EPB) data on Thursday.

The apparel sector witnessed a 7.74 percent decline to $13.08 billion in the first five months of the current fiscal year, which was $14.18 billion in the same period last year.

As per the data, knitwear products earned $6.8billion, down by 6.79 percent, which was $7.30 billion the previous year.

Woven goods fetched $6.28 billion, posting an 8.74 percent fall against $6.88 billion in the same period last year.

The shipment of leather and leather goods continue to fall like the previous months. In the July-November period, this sector fetched $391 million, a 10.03 percent lower than that in the same period last fiscal.

Export earnings from frozen and live fish also dropped by 7.62 percent year-on-year to $235.11 million, which was $254.51 million a year ago.

Amid a series of bad news in export box, export earnings from jute and jute goods sector made a rebound with a 15.16 percent growth in the last five months.

In July-November, jute and jute products bagged $404.79 million which was $351 million during the same period a year ago.


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