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Although the growth in the first month of the current fiscal year 2020-21 was less than 1 percent. However, in August, the growth was 4.32 percent. Growth continued at 3.53 percent in September. As I said, growth was negative again in October. According to a report by the Export Promotion Office (EPB), the country’s exports in October fell 4.8 percent compared to the same period last fiscal year.
Despite a decline in exports as a single month in October, the first four months of the fiscal year (July-October) posted positive overall growth, although it was less than 1 percent. According to the EPB report, a total of 1,264.46 billion dollars worth of goods were exported from Bangladesh in the first four months of the year. Where in the same period of the last financial year, the export amount was 1,262 crore 12 lakh 20 thousand dollars.
EPB statistical analysis shows that export growth was positive only in July of fiscal year 2019-20. Exports were negative in all the months from August to June except December. Then, in July of the current fiscal year, that is, after six consecutive months, exports increased.
We know by heart that most of the country’s export sector comes from ready-made garments. Updated figures from EPB show that garments accounted for about 81 percent of the country’s total exports from July to October. The decline in exports of ready-made garments is reflected in overall exports.
In the last financial year, clothing exports have decreased by 16.12 percent. After a six-month drop, the sector returned to a somewhat positive growth trend in August and September this year. On the other hand, in October, the export of ready-made garments fell 7.8 percent, which has raised concerns about the global demand of the sector and the recovery of trade.
