Record exports bring home new hopes 

Despite all the lockdowns, travel restrictions, and pandemic-induced economic downturn, Bangladesh recorded its highest ever single-month export earnings amounting to $4.72 billion this year.

According to Export Promotion Bureau (EPB) data, export receipts surpassed the $3.46 billion target set for October, registering a whopping 60.37% year-on-year growth.

Moreover, apparel shipment grew by 53.27% to $3.56 billion year-on-year in the same month, raising the total export earnings to $15.74 billion in the first four months of this fiscal year.

The July-October earnings were 22% higher than $12.84 billion earned in the same period last fiscal year and 13% higher than the set target, bringing home new hopes for a nation that turned 50 a few days back.

The highest earnings, $2.04 billion, came from knitwear shipment, while woven items fetched $1.51 billion, both posting over 52% growth from a year-ago period. 

The October earnings were 13.7% higher than the amount earned in September – made possible thanks to a strong rebound in demand for apparel in western countries and supply disruptions from key competitors.

Meanwhile, export earnings for agricultural products rose by 29.34%. Whereas, for leather and leather products, it rose by 28.85%. 

Export earnings from engineering products saw a growth of 142.49%. 

However, the earnings from jute and jute products dropped by 24.11%. 

Apparel exporters are hopeful of export growth to continue but are concerned about lower unit prices compared to soaring costs of raw materials.