Export income of almost all sectors except jute is increasing. That is why the country’s exports of goods have maintained a good pace overall. However, new COVID-19 infections are on the rise in Europe. Omicron, a new strain of the virus, is also spreading panic. However, new COVID-19 infections and the new strain have not yet had a significant impact on exports.
According to the EPB, in the first five months (July-November) of the current fiscal year 2021-22, exports amounted to 1,979 crore dollars, equivalent to Tk 1 lac 68 thousand and 215 crore in domestic currency. This income is 24.29% more than the same period last year. In the first five months of this year, the export revenue target was 1,747 crore dollars. However, in the end, the export has exceeded the target by 13.27%.
Meanwhile, goods worth more than 400 crore dollars were exported in September and October. Continuing that trend, goods worth 404 crore dollars were exported last November, which is equivalent to Tk 34 thousand 340 crores in the domestic currency. This income is 31.25% more compared to November last year. However, in October, the export growth was 60%. The Export Promotion Bureau (EPB) on Thursday released the updated data on commodity export earnings (temporary).
In the last fiscal year 2020-21, the export of goods was worth 3 thousand 876 crore dollars. The Ministry of Commerce has set a target income of 4 thousand 350 crore dollars for the current fiscal year 2021-22. The trend of export earnings so far shows that it is likely to exceed the target this year. However, exporters are a bit apprehensive about the new wave of COVID-19.
According to the EPB’s data analysis, exports of agro-processed, leather and leather products, frozen foods, home textiles, and engineering products, in addition to readymade garments, increased in the first five months of this year. This has had a positive impact on the overall export of goods. However, the export income of jute and jute products decreased by 17.5%.
As always, readymade garments are at the forefront of product exports. In the first five months of the fiscal year, 80% of the total exports came from the garments sector. Garments worth 1 thousand 585 crore dollars have been exported. This income is 22.97% more than last year. Among the garments sector, exports of knit garments have increased at a rate of 26%. Knit garments worth 898 crore dollars have been exported. On the other hand, woven garments worth 687 crore dollars have been exported. In this case, the growth is 19%.
According to EPB, in the first five months of the current fiscal year, exports of agricultural processed products amounted to 55 crore and 64 lac dollars. This income is 24.37% more than the same period last year. In addition, home textiles worth 56 crore and 36 lac dollars have been exported. In this case the growth is 25%.
Besides, leather and leather products worth 45 crore and 58 lac dollars were exported during July-November of this year. This includes 5 crore and 64 lac dollars in raw leather, 12 crore and 11 lac dollars in leather goods and 28 crore in leather shoes. Exports of leather and leather products increased by 27% compared to the same period last year. However, jute and jute products worth 45 crore and 68 lac dollars have been exported. This income is 17.45% less than the same period last year.
