Bangladesh’s export earnings in July to April of the current fiscal year stood at $27.63 billion. A growth of 9.22 per cent from the $25.30 billionearned in the same period of the previous fiscal year driven mainly by a moderate increase in RMG export.
According to the Export Promotion Bureau data (EPB), the amount of the earnings is 1.95 per cent more than the $27.10 billion target set by the government for the period. The EPB data shows the export earnings in April stood at $2.68 billion or 11.82 per cent more than that in March and 0.41 per cent higher than the target of $2.67 billion for the month.According to the data, the earnings from the readymade garment export in the July-April period of FY16 amounted to $22.63 billion, which were 10.07 per cent higher than the $20.56 billion earned in the same period of FY15.
Experts and exporters have termed the export earnings growth in the first 10 months of 2015-16 satisfactory.
As per their assessment, improvement in compliance, technological upgrading, and gaining market share from China were the key reasons behind the growth. They said, after the Rana Plaza building collapse, entrepreneurs have made huge investments in the areas of compliance that helped the country regain its image. They said the Western buyers are now satisfied with the standard of Bangladesh’s RMG factories as they identify only a few factories as risky. At the same time, garment makers have undertaken technological renovation leading to improved productivity and increased supply.