Bangladesh’s export earnings dropped by 1.45 percent in first eight months of the current fiscal year compared to the same period a year ago.
During the July-February period of FY2021, the exports stood at $25.86 billion down from $26.24 billion in the corresponding period of the last fiscal, according to the figures released by the Export Promotion Bureau (EPB).The earnings fell 3.61 percent short of the strategic target set for the period.
The industry leaders have attributed the decline to the sluggish global economic activities hit by the pandemic.
The country’s key industry, readymade garment (RMG), plummeted by 3.73 percent, earning $21.03 billion compared to $21.84 billion a year earlier.
The export receipts from woven garments during the period declined by 11.49 percent to $9.69 billion, according to the EPB data. However, the knitwear exports surged by 4.06 percent adding $11.34 billion to the total earnings. The figure was nearly $10.90 billion in the July-February period last fiscal.
The leather and leather goods sector earned $605.67 million, dropping by 4.15 percent from $631.89 million.
However, the exports of home textile and jute remained unaffected by the pandemic maintaining a steady growth during the period. Home textile exports witnessed a sharp rise by 38.92 percent reaching $730 million during the eight months.Exports from jute and jute goods also increased by 23.67 percent to $862.74 million from $697.63 million in last fiscal year.
Agricultural products exports, however, dropped by 0.40 percent to $664.67 million during the period.
Exports of frozen foods and live fish earned $338.01 million, down by 10.28 percent in the eight months.