Business Desk :
Bangladesh’s export earnings saw 31.26% year-on-year growth to $4.04 billion in November this year compared to the same month of the previous year.
The improvement has been largely credited to the performance of apparel shipments while frozen and live fish, agricultural products, leather and leather goods, home textile, jute and jute goods also showed moderate growth throughout the month.
However, the earnings are about $686 million lower than the incomes of October this year, according to the latest provisional data from the Export Promotion Bureau (EPB) released Thursday.
Engineering products export saw 18.09% negative growth in November.
In October, Bangladesh posted an exceptional growth with around 60% to $4.73 billion, which was the highest ever in a single month.
According to the EPB data, the country’s export earnings were $3.57 billion in November 2020.
EPB data showed that $3.23 billion export earnings came from the readymade garments (RMG) sector.
The latest export data published by EPB for the period Jul-Nov of FY2021-22 shows 22.9% growth in RMG export, compared to Jul-Nov of FY2020-21.
For the month of November, the export of RMG increased by 32.34%. For knitwear the growth is 33.05% and for woven the growth is 31.48%.
Mohiuddin Rubel, a director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said, “If we also look at the export value for November 2021, it shows that we exported $3.24 billion of RMG in spite of having a 32% growth.”
This means export in November 2020 was much less which is $2.44 billion, he added.
Rubel also highlighted that the price of the raw materials including textile, dyes and chemicals has gone up.
“The freight cost has reached a record height. So obviously export value accommodates the inflation of input cost, so the growth in export is rather nominal, not absolute,” he said.
