Bangladesh’s export earnings in the first quarter were 2.84 per cent less than the target set for the period. However, earnings for the readymade garment sector were 7.17 per cent higher compared to the same period a year ago. Earnings from knitwear products were 10.18 per cent up, and woven garments’ earnings were up 4.04 per cent compared to the corresponding period last year.

September earnings fell short of the monthly target. September exports were 10.18 per cent less from a year earlier and 44.23 per cent less from August. Lower shipments of garment products, which typically account for 80 per cent of the total export receipts, have been blamed for the slump in September’s export earnings. Another reason for the slowdown in garment exports in September is that it coincided with Eid-ul-Azha, so the factories remained shut for a long stretch.

Shipment of jute and jute goods grew 15.46 per cent, which is 5.87 per cent below the target for the July-September period. Home textile exports grew 23.81 per cent during July-September. Bangladesh targets reaching $50 billion in exports by 2021. It’s essential to take steps to reduce transport costs, ensure better infrastructural facilities and build deep-sea ports.