Bangladesh’s merchandise exports rose 5.89% to $5.13 billion year-on-year this January despite a drop in shipments by major non-RMG sectors, according to the Export Promotion Bureau (EPB) data released on Thursday (2 February).
With this, the country earned over $5 billion in each of the last three months, a development that may boost the country’s foreign exchange reserves and ease volatility in the dollar market. Nonetheless, January’s exports fell slightly short of the strategic target of $5.24 billion.
According to EPB data, earnings from apparel shipments in January this year stood at $4.42 billion, up from $4.08 billion in the same month last year.
The country’s merchandise exports increased by 9.81% to $31.44 billion YoY in the first seven months of FY23. The bulk of the growth came from readymade garments as RMG exports in the July-January period grew by 14.32% to $27.41 billion.
