Export earnings dip in August

Country’s export earnings in August this year fell 26.27 per cent short of the government-set target of $3.85 billion due to the lower shipment of readymade garment products as production in the factories was suspended for 7-9 days for Eid-ul-Azha holidays.

Export earnings in the second month of the current financial year 2019-20 fell by 11.49 per cent to $2.84 billion from $3.21 billion in the same month of the last fiscal, according to the provisional data of Export Promotion Bureau to be released today.

Exporters said that readymade garment exports in August 2019 fell by more than 11 per cent due to Eid vacation as most of the factories remained closed for at least seven days.

Country’s overall export earnings in July-August, the first two months of FY20 fell by 0.92 per cent to $6.73 billion from $6.79 billion in the same period of FY19, data showed.

Export earnings from the RMG sector in the first two months of FY20 decreased by 0.33 per cent to $5.71 billion from $5.73 billion in the same period of FY19.

Earnings from woven garments fell by 0.94 per cent to $2.79 billion in July-August of FY20 from $2.82 billion in the same period of the last fiscal year.

Knitwear export in the first two months of FY20 fell by 0.27 per cent to $2.92 billion from $2.91 billion in the same period of FY19.

‘BGMEA has unpublished data that shows 11.46 per cent negative growth in RMG export only in August and this happened due to Eid vacation,’ Bangladesh Garment Manufacturers and Exporters Association director Asif Ibrahim told New Age on Saturday.

Asif, also the vice-chairman of Newage Group, said that most of the factories remained closed for at least seven days due to Eid vacation and another seven days full production capacity could not be utilized as workers did not join in full force in the factories.

Export earnings from leather and leather goods in July-August of FY20 grew by 1.32 per cent to $185.41 million from $143 million in the same period of last fiscal.Export earnings from leather-footwear decreased by 7.26 per cent to $119.43 million while other leather products fetched $44.15 million with a 39.14-per cent growth in the period.

Earnings from the home textile export in July-August of FY20 fell by 13.06 per cent to $116.79 million from $134.34 million in the same period of FY19.

Export earnings from agriculture products in the first two months of FY20 fell by 24.36 per cent to $134.4 million from $177.68 million in the same period of FY19.

Export earnings from frozen and live fish decreased by 5 per cent to $82.85 million while the shrimp export fell by 9.83 per cent to $6620 million in the first two months of FY20.


Comments

Shampratik Deshkal Epaper

Logo

Address: 10/22 Iqbal Road, Block A, Mohammadpur, Dahaka-1207

© 2022 Shampratik Deshkal All Rights Reserved. Design & Developed By Root Soft Bangladesh