Bangladesh’s exports grew almost 13 per cent in the first eight months of the current fiscal. Earnings from apparel exports registered a 14.17 per cent growth, accounting for 84 per cent of the total earnings. Earnings from knitwear products were 13.5 per cent higher than the same period a year ago. Earnings from woven products were up 14.84 per cent compared with the corresponding period a year earlier. Earnings from exports of agricultural products were up 58.23 per cent compared to the same period of the previous fiscal year.
The pace of export earnings picked up from the beginning of the current fiscal year compared to last fiscal year. But amid the uptick, there are small blips. Export earnings from leather and leather products dropped 11.50 per cent. Earnings from jute and jute goods also fell during the period.
Export earnings are expected to further increase more in the coming months. Bangladesh is now exporting high end garment products. The country’s exporters want the currency devalued against the dollar and incentives so that they can target more markets. India, Brazil, Mexico and Chile are turning into major export destinations for Bangladesh. Garment exports to non-traditional markets have been growing since 2010-11.