Export earnings drop by 7.85pc in October

Staff Reporter :
Country’s export earnings declined in this year’s October compared with last year’s October. Bangladesh earned 435,66,20,000 US dollars through exporting various products from the international market this year’s October, while the country earned 472,75,30,000 US dollars in the last year’s October.
Bangladesh’s export income has decreased by 37,0 9,10,000 dollars compared to last year’s October, which declined rate is 7.85 per cent, said a report by the Export Promotion Bureau (EPB) on Wednesday.
The government had a target to earn U$ 17.42 billion in the first four months of July-October of FY22-23.
But export earnings in the first four months of July-October of FY22-23 increased by 7.01 per cent to U$16.85 billion from U$15.75 billion in the same period of FY21-22.
Apparel exports in July-October of FY22-23 grew by 10.55 per cent to U$13.95 billion (83 per cent of the total exports) from U$12.62 billion in the same period of FY21-22, according to the EPB report.
The country has set a target of $58 billion for the current fiscal year. Bangladesh’s export earnings in October 2022 registered a negative growth for the second month in financial year 2022-23 due to the economic slowdown in the European Union caused by Russia-Ukraine war.
Experts and exporters said that the fall in exports was expected considering the present global volatile economic situation.
They, however, said that the fall in export in October was not big as the earnings in the same month of 2021 witnessed a sharp jump and posted the highest ever single month earnings.
Policy Research Institute of Bangladesh (PRI) Director and Research and Policy Integration for Development (RAPID) Chairman Dr MA Razzaque said, “It was expected that exports may decline in October, but it is not too large a fall yet as per the global economic crisis.”
The export earnings remain above U$4 billion, which is a positive sign, he said.
“Last year’s October, the earnings saw a big jump, compared that the last month’s earnings fall is marginal,” Dr MA Razzaque added.
Earnings from woven garments export in the four months of FY2022-23 increased by 15.08 per cent to U$6.22 billion from $5.41 billion in the same period of the past fiscal year.
Export earnings from knitwear in July-October of FY2022-23 increased by 7.14 per cent to U$7.72 billion from $7.21 billion in the same period of FY2021-22.
Home textile export in July-October of FY23 increased by 5.18 per cent to U$434.16 million from U$412.78 million in the same period of FY2021-22.
Leather and leather goods export in the four months of FY23 increased by 17.42 per cent to $428.46 million from $364.9 million in the same period of FY2021-22.
Export earnings from leather-footwear in the period grew by 19.14 per cent to U$ 269.43 million from U$226.14 million while other leather products fetched U$114.11 million with a 18.51per cent growth.
Agriculture products export in the four months of FY2022-23 fell by 23.81 per cent to U$353.62 million from U$464.11 million in the same period of FY2021-22.
Export of jute and jute goods, however, fell by 1.96 per cent to $326.47 million from U$332.98 million, the data showed.
Export earnings from frozen and live fish fell by 23.78 per cent to U$171.67 million from U$225.23 million while the shrimp export decreased by 27.48 per cent to U$131.31mtillion in the four months of FY2022-23.
According to the EPB report, engineering products export in July-October of FY2022-23 fell by 47.66 per cent to U$177.81 million from U$339.73 million in the same period of FY2021-22.