Bangladesh earned around $460 crore in the second month of the current fiscal year by exporting goods abroad which was $338 crore in the same period of the last year despite global economic turmoil due to the Russian invasion of Ukraine.
According to the Export Promotion Bureau (EPB), the country earned $122 crore more in August compared to the same period of the last fiscal.
In July, the first month of the fiscal year, the growth of export earnings was 15 per cent. It also increased to 36 per cent in August than the same time of the last fiscal year.
People concerned said export earnings has exceeded the target set by the government in August. The government’s export target was $430 crore for August. Bangladesh earned 7.14 per cent more than the target, thanks to the exporters helping the country during the ongoing dollar crisis.
AHM Ahsan, Vice Chairman and CEO of the EPB, told Bangladesh Pratidin that after the Covid-19 pandemic Russia-Ukraine war has created a big risk in the country’s export sector. Bangladesh has exported more than the target in August facing this risk. Lather and jute products have helped to boost export earnings.
According to the EPB, goods which increased export earnings in August are -- knit garments (20 per cent), oven garments (34 per cent), Home Textiles (53 per cent), copper wire (66 per cent), special textiles (73 per cent), plastic products (60 per cent), leather shoes (63 per cent), green jute (63 per cent), engineering machinery (146 per cent), electronics (52 per cent), jute yarn and twine (14 per cent) and leather goods (25 per cent).
Ahsan said the fuel oil crisis and additional inflation are increasing the living cost of western people like Europe and America. Their economy is in crisis due to the Russia-Ukraine war. Many countries have reduced buying clothes due to the price hike of food. As a result, readymade garments-based exporting countries remain at risk.
He, however, thinks that Bangladesh’s industry sector has achieved the capacity to face this risk.
“This export earnings growth will continue in the next months by facing all obstacles,” he hoped.
@ This report appeared on the print and online version of Bangladesh Pratidin on Monday (September 5) and has been rewritten in English by Golam Rosul
