Bangladesh’s export sector has recovered after COVID-19’s shock. Records are being made one after another. With only two months left in the current 2021-22 fiscal year, the export revenue has almost reached the target. During the 10 months of July-April, exports amounted to USD 4 thousand and 334 crores. In domestic currency, this is equivalent to Tk 3.75 lac crores. The target for the whole fiscal year in the goods export sector is 4 thousand and 500 crore dollars. The total export target, including the service sector, is 5 thousand and 100 crore dollars.
If all goes well, the export of goods will reach the milestone of five thousand crore dollars by the end of the year. Earlier, the highest export in one year was in the fiscal year 2018-19; 4 thousand and 53 crore dollars. Due to COVID-19, exports declined in the next two years.
The Export Promotion Bureau (EPB) has released these updated statistics on export revenue. It shows that last April, goods worth 474 crore dollars were exported. In domestic currency that is equal to Tk 40 thousand and 977 crores.
The export target for April was 337 crore dollars. In contrast to that, goods worth 474 crore dollars have been exported. This means that the export revenue is 40.66% more than the target. Exports in April were 51% percent higher than in the same period last year. However, overall, the export of goods has increased by 35% in the last 10 months. If this growth is maintained till the end of June, it will be a record. Because, in the last 10 years, the maximum growth was 15% in the last fiscal year.
Readymade garments are at the top of the list in terms of product exports. In the first 10 months of the current fiscal year, garments worth 3 thousand and 536 crore dollars have been exported. This revenue is 35.98% more than the same period last year. Apart from readymade garments, Bangladesh is doing well in exporting home textiles, leather and leather products, agro-processing, and engineering products.
