Tuesday, 7 December 2021

Garment boom boosts Bangladesh exports to $31 bilion

DHAKA: Bangladesh’s export income in the first three quarters of the current 2018-19 fiscal year (July 2018-June 2019) surged 12.57 percent to nearly 31 billion U.S. dollars, an official said.

The Export Promotion Bureau (EPB) official told Xinhua that the country earned a total of 30,903.02 million U.S. dollars from exports in July to March period of the current 2018-19 fiscal year.

Quoting the latest EPB data, the official, who preferred to be unnamed, said export earnings for March were 3.34 billion U.S. dollars, 9.35 percent higher than in the same month last year.

Bangladesh’s overall exports boomed because of rapid growth in export of ready-made garment industry, which make up three-fourths of the country’s total exports a year, in the recent months, said the EPB official.

In the first nine months of the current fiscal year, the EPB data showed knitwear garment export grew merely 13.7 percent to 12.80 billion U.S. dollars while woven garments increased 14.22 percent to 13.15 billion U.S. dollars, compared to the same period of last fiscal year.

Bangladesh set its export target in 2018-19 fiscal year at 39 billion U.S. dollars including 32.69 billion U.S. dollars from readymade garment products.

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