Bangladesh Exports Skyrocket, Nearly 16 Billion USD Fetched In First Four Months Of FY 2021

Bangladesh’s total goods export income in the first four months of the current fiscal year (July 2021-June 2022) surged about 23 percent year on year, to nearly 16 billion U.S. dollars, thanks to a hefty rise in shipments of readymade garment items, an official said yesterday.

The Export Promotion Bureau (EPB) official, said that, Bangladesh earned a total of 15,749.48 million U.S. dollars from exports during the July-Oct period, compared to 12,844.64 million U.S. dollars in the same period of the previous year.

With hefty growth in garment exports, he said, Bangladesh shipped goods worth 4.73 billion U.S. dollars in Oct, the highest single-month receipts, which was also 60.37 percent higher than the same month a year ago.

The previous single-month highest export earnings were recorded in Sept, when Bangladesh fetched home 4.17 billion U.S. dollars.

The export income exceeded the target of 13.90 billion U.S. dollars for the July-Oct period by 13.33 percent, said the official.

Bangladesh set its export target in 2021-22 fiscal year at 43.50 billion U.S. dollars, including 35.14 billion U.S. dollars from ready-made garment products, which usually account for about 85 percent of the national shipment in a year.

In the July-Oct period, according to the official, Bangladesh earned 12.62 billion U.S. dollars from garment exports, with knitted items, such as T-shirts and woven items, such as jeans rising 20.78 percent.