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Ibrahim Hossain Ovi
As the economic activities improved in the last couple of months with the inception of COVID-19 pandemic vaccination, Bangladesh’s export earnings recorded a sharp rise by 12.59 per cent to $3.07 billion in March.
In March 2020, Bangladesh exports saw an 18.23 per cent negative growth mainly due to the outbreak of COVID-19 in the month in the country.
Though some sectors were still showing negative growth, it was less than that of the same period of last year when the country’s economy was hit hard by the pandemic.
According to Export Promotion Bureau data, in March Bangladesh earned $3.07 billion - 12.59 per cent higher compared to $2.73 billion in the same period last year.
The export earnings failed to reach the target of $3.44 billion set for March.
However, export earnings during the July-March period of the fiscal year 2020-21 declined slightly by o.12 per cent to $28.93 billion against $28.97 billion in the same period of the last fiscal year.
The apparel sector, the largest contributor to the country's overall exports, earned $23.48 billion, down by 2.55 per cent, which was $24.10 billion in the same period of last fiscal year.
Of the total apparel exports, knitwear products fetched $12.65 billion, up by 5.85 per cent compared to $11.95 billion of last fiscal year. Woven items earned $10.83 billion, registering a 10.83 per cent negative growth.
The home textile sector posted robust growth and earned $846 million, up by 41.5 per cent, which was $598 million in the same period a year ago.
Among the major sectors, jute and jute goods earned $953.57 million, up by 24.94 per cent from $775.63 million in the previous year.
On the other hand, leather and products declined by 0.53 per cent to $684.84 million, which was $688.51 million.
But non-leather footwear exports rose by 2.61 per cent to $248.38 million against $242 million.
Exports earnings from frozen and live fish declined by 8.66 per cent to $368 million, which was $402.6 million in the same period of last fiscal year.
Agricultural products have posted a 3.43 per cent positive growth to $746.72 million against $722 million a year ago.
Export earnings from the pharmaceuticals sector, an emerging sector, increased by 12 per cent to $119 million against $106.22 million.
Exports shipment of plastic goods increased by 1.86 per cent to $84.66 million, which was $83.11 million.
io/am
