The country’s export earnings in April posted a paltry growth of 2.69 per cent year-on-year, falling short of the government target. Although, export earnings in April increased to $3.03 billion from $2.95 billion in the same month of last year, the earnings were 1.52 per cent lower than the government target of $3.08 billion, according to Export Promotion Bureau data released on Thursday.
Export earnings in April, 2018 posted a 7.11 per cent growth year-on-year, data showed.
Exporters said that traditionally Bangladesh got less number of orders for readymade garment products in the month of April due to seasonality.
The country’s overall export earnings in July-April of the current financial year 2018-19 grew by 11.61 per cent to $33.93 billion from $30.40 billion in the same period of FY18, showed EPB data.
Export earnings from the RMG sector in July-April of FY19 increased by 12.59 per cent to $28.49 billion from $25.3 billion in the same period of FY18.
Earnings from woven garments grew by 12.85 per cent to $14.40 billion from $12.76 billion in the same period of the last fiscal year.
Knitwear export grew by 12.32 per cent to $14.08 billion from $12.54 billion.
’Seasonality was the main cause of lower shipment of readymade garments in April and hopefully the export earnings would be increased more in the coming months, ’ Bangladesh Garment Manufacturers and Exporters Association vice-president Arshad Jamal Dipu told New Age on Thursday.
He said that traditionally, Bangladesh received less number of orders in April and September every year.
Moreover, buyers always reduce their order to the country during general elections and the order scenario of December last year has reflected in the data of April, he said.
The home textile sector experienced a negative growth in export earnings in the period, falling by 3.74 per cent to $723.59 million from $751.67 million in the same period of the previous fiscal year.
EPB data show that export earnings from agriculture products in the 10 months of FY19 grew by 45.61 per cent to $790.9 million from $543.18 million in the same period of the last fiscal year.
Export earnings from leather and leather goods dropped by 8.69 per cent to $ 837.07 million in July-April of FY19 from $916.74 million in the same period of FY18.
However, the export earnings from leather-footwear increased by 6.72 per cent to $491.05 million while other leather products fetched $198.94 million with a 33.83-per cent negative growth in the period.
Jute and jute goods exports in the July-April of FY19 fell by 21.83 per cent, to $695.52 million from $889.74 million in the same period of FY18.
Export earnings from frozen and live fish increased by 2.65 per cent to $ 446.48 while the shrimp export income fell by 10.38 per cent to $318.43 million in the period.
Pharmaceutical exports in the July-April period of FY 19 increased by 29.94 per cent to $111.70 million from $85.96 million in the same period of FY18, data showed.