Bangladesh’s export earnings in November 2023 decreased by 6.05 percent to USD $4.78 billion compared to the same month of 2022, but increased in comparison to the previous month (October), said the latest statistics of Export Promotion Bureau (EPB) released on Monday.
According to EPB, exports earned $3.76 billion in October 2023.
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The export decrease was driven by a significant drop in shipments of ready-made garments (RMG). The RMG sector fell to $4.05 billion in November, down by 7.45 percent from the same month of last year.
Apparel shipments were particularly weak in the knitwear subsector, which generated $2.31 billion, down by 3.18 percent. Earnings from woven garments also fell by 12.59 percent to $1.73 billion.
However, the overall export earnings in 5 months (July – November) of the current fiscal year 2023-24 marked a slow growth of 1.30 percent to $22.23 billion, compared to $21.94 billion during the same period of fiscal 2022-23.
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Analyzing EPB data found that the export of all sectors except ready-made garments among the major sectors has decreased. These include frozen foods; Leather and leather products; Jute and jute products; Agricultural processed products, home textiles, etc.