Bangladesh鈥檚 export earnings in April 2024 decreased slightly year-on-year compared with the same month of 2023 while the earnings in 10 months (July-April) of the current financial year 2023-24 grew by 3.93 per cent.
Exporters said that the shipment of apparel decreased in April due to various reasons, including Red Sea crisis, increasing cost of utilities and Eid-ul-Fitr holidays.
The country鈥檚 export earnings in April declined by 0.99 per cent to $3.91 billion year-on-year compared with those of $3.95 billion in the same month of 2023, according to the Export Promotion Bureau data released on Thursday.
The EPB data showed that Bangladesh鈥檚 export earnings in July-April of FY24 increased to $47.47 billion compared with those of $45.67 billion in the same period of FY23.
Export earnings from readymade garment in the 10 months of FY24 stood at $40.49 billion, which is 4.97 per cent higher than the earnings of $38.57 billion in FY23.
Export earnings from woven garments in July-April of FY24 failed to make any growth and the subsector fetched $17.61 billon which was same with the earnings in the same period of FY23.
Export earnings from knitwear in the 10 months of FY24, however, grew by 9.11 per cent to $22.88 billion compared with those of $20.96 billion in the same period of FY23.
The export growth of woven garments remained stagnant for past few months as the Red Sea crisis increased lead-time for Bangladesh by at least 15 days and buyers were shifting some orders to other manufact6uring countries, including China, Bangladesh Garment Manufacturers and Exporters association vice-president Abdullah Hil Rakib told 抖阴精品 on Thursday.
He said that earnings growth from knitwear remained in positive territory as the subsector could manage lead-time due to using local raw materials.
Moreover, the increased cost of utilities increased production cost and many manufacturers failed to entertain some orders at the rate offered by the buyers, Rakib said.
He also said that in April production remained suspended in the factories more than one week due to the Eid holidays, which lowered shipment in the month.
The EPB data showed that export earnings from home textiles in July-April of FY24 fell by 25.32 per cent to $702.56 million compared with $940.8 million in the same period of FY23.
Earnings from leather and leather goods in the 10 months of FY24 fell by 13.32 per cent to $872.45 million compared with those of $1.00 billion in the corre sponding period of FY23.
Earnings from leather-footwear exports in July-April of FY24 declined by 25.80 per cent to $430.68 million compared with those of $580.40 million while the other leather products fetched $328.24 million with a 1.63-per cent growth in the period.
Export earnings from jute and jute goods in the 10 months of FY24 fell by 7.05 per cent to $716.44 million compared with those of $770.82 million in the same period of FY23.
Export earnings from agricultural products in the period, however, increased by 6.12 per cent to $774.49 million compared with those of $741.35 million.
Export earnings from frozen and live fish decreased by 13.34 per cent to $321.93 million and the earnings from shrimp exports fell by 20.48 per cent to $212.29 million in the 10 months of FY24.
Export earnings from engineering products in July-April of FY24 declined by 0.4 per cent to $436.35 million compared with those of $438.11 million in the same period of the previous financial year.
