Exports up 20.6pc in Oct to $4.13b

Staff Reporter :

Bangladesh’s merchandise exports grew by 20.60 per cent year-on-year in October, largely driven by a surge in readymade garment shipments.

According to data from the Export Promotion Bureau (EPB), published on Sunday, the value of exports reached $4.13 billion in October this year, compared to $3.42 billion during the same period last year.

In the first four months of the current fiscal year, from July to October, total exports grew by 10.80 per cent, reaching $15.78 billion, up from $14.24 billion during the corresponding period of the previous fiscal year, as per EPB data.

The data, provided by the state agency, reflects real-time shipment updates from the ASYCUDA World system of the National Board of Revenue (NBR).

The readymade garment (RMG) sector, the country’s largest export earner, contributed $3.30 billion in October, marking a 22.8 per cent
increase from $2.68 billion in the same period of FY24.

This accounted for 79.8 per cent of total export earnings. Knitwear led the growth in the RMG sector, contributing $1.86 billion, a 24.6 per cent increase from $1.50 billion, while woven garments earned $1.44 billion, up 20.54 per cent from $1.20 billion in October of the previous fiscal year.

Among other sectors, agricultural products saw positive growth of 7 per cent, reaching $113.1 million, up from $105.8 million in October FY24. Footwear exports experienced substantial growth of 40.87 per cent, rising to $42.91 million from $30.46 million in October FY24.

The pharmaceutical sector also recorded a significant increase, up by 48.91 per cent, with earnings totalling $21.19 million, compared to $14.23 million in October last year.

However, the leather and leather goods sector saw a slight decline of 1 per cent, with earnings of $83.2 million, down from $84 million in October last year.

Home textiles also registered a modest decline of 1.21 per cent, with earnings totalling $185.52 million, compared to $187.8 million a year ago. Similarly, export receipts from jute and jute products dropped by 7.6 per cent, falling to $78.9 million from $85.4 million in October FY24.

In the previous fiscal year, Bangladesh earned $44.46 billion from merchandise exports.