Bangladesh’s export earnings dropped by 7.85% year-on-year in October, said a report by the Export Promotion Bureau (EPB). According to the data, the country earned $4.35 billion from export earnings in October this year. In October last year, export earnings were $4.72 billion.
The export earning target for October this year was $5 billion.
Export earnings registered this negative growth due to the economic slowdown in the European Union caused by the Russia-Ukraine war.
The country has set a target of earning $58 billion from apparel export for the current fiscal year.
Its export earnings witnessed low growth in September after a positive streak of 13 months since August last year.
Meanwhile, during the first four months of FY23 (July-October), overall exports registered a thin positive growth of 7.01% to $16.85 billion from $15.74 billion in the same period of the last fiscal. However, during the mentioned period, apparel export reached $13.95 billion, fetching a YoY growth of 10.55%, from $12.62 billion in the same period of FY22.
Leather and leather goods registered a growth of 17.42% to $428.46 million, which was $364.9 million in the same period last FY.
On the other hand, agricultural products registered a negative growth of 23.19% to $353.62 million, from $464.11 million in last fiscal year. Jute and jute products also registered a negative growth of 1.96% to $332.98million, which was $326.47 million in the same period of the last FY.
