Bangladesh's export earnings for the financial year 2022-23 reached $55.55 billion, according to data released by the Export Promotion Bureau. However, this figure fell short by 4.21% of the government's target of $58 billion.
Despite the shortfall, there was a growth of 6.67% or $3.47 billion compared to the previous year's earnings of $52.08 billion. In June 2023, export earnings experienced a year-on-year growth of 2.51%, totaling $5.03 billion, compared to $4.90 billion in June 2022. Nevertheless, June's earnings were 9.61% below the government's target of $5.56 billion.
Notably, the export earnings from readymade garments in FY23 increased by 10.27% to $46.99 billion, while earnings from woven garments grew by 9.65% to $21.25 billion. Additionally, earnings from knitwear exports rose by 10.87% to $25.73 billion, as per the EPB data.
Overall, Bangladesh's export sector demonstrated growth in the financial year, albeit falling short of the government's set targets.