Exports hit record for the second month

News Desk :
Bangladesh’s exports rose 9.33 percent year-on-year to a record high of $5.37 billion in December, surpassing the previous monthly peak in November.
The December receipts are still slightly behind the government’s $5.42 billion target set for the month, according to data released by the Export Promotion Bureau on Monday.
The total exports in the first six months of the 2022-2023 fiscal year now stand at $27.31 billion, a 10.58 percent increase year-on-year, reports bdnews24.com
The garments industry, which leads exports in Bangladesh, fared well in December. Over the last six months, garment exports have increased 15.56 percent to about $23 billion from a year earlier. Knitwear accounted for $12.67 billion, growing 13.42 percent, and woven garments accounted for $10.34 billion, an 18.29 percent increase year-on-year.
The other significant exports in the first six months of the year included leather and leather goods, which fetched $637.2 million, growing 13 percent year-on-year.
Exports of jute and jute products fell 17.65 percent to $485.88 million in the July-December period from a year earlier. Agricultural exports also fell 23.26 percent year-on-year to $501.91 million.
Experts had said that these three sectors combined could add over a billion dollars to Bangladesh’s coffers by the end of the year.
Many garment exporters have described the new level of exports as a “miracle”. Garment factory owners say they are seeing hope because exports hit highs in the past two months despite a slowdown in purchase orders from global retailers. The record exports in December is hopeful news amid many worries, said Mohammad Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association.
“While our situation is not good, this is a positive sign,” he said. “Though the whole world is in a tumultuous situation, Bangladesh’s garment exports are giving hope. Bangladesh has never exported this much before. If exports increase, the country’s dollar crisis will ease too.”