Bangladesh’s export earnings in July soared 26.54 per cent, marking a strong rebound after lackluster performance in the fiscal year that concluded in June. The surge was led by garments shipments which soared 17.08 per cent year-on-year in July. Still, the sector’s export earnings fell short of the monthly target by five per cent.

Since the congestion at Chittagong port has been eased and goods were delivered in July, export earnings reflected a sharp rise. In the just-concluded 2016-17 fiscal year, Bangladesh’s export earnings from the apparel industry saw only a 0.20 per cent rise, the lowest growth figure for 15 years for the key foreign currency earner. However, Bangladesh’s overall export earnings stood at $34.83 billion in the last fiscal year, which is 1.68 per cent higher than the $34.25 billion a year ago. Bangladesh is targeting earning $50 billion from readymade garment exports by 2021.

The readymade garment sector is a vital industrial sector of Bangladesh which is immensely contributing to the country’s export earnings, employment generation and value addition. Efforts are being made to ensure a safe, sound, green, environment-friendly and a vibrant garment sector. Out of 10 eco-friendly factories of the world, seven are located in Bangladesh.