Exports up 7.11pc in April

Exports grew 7.11 percent year-on-year to $2.95 billion in April riding on the higher shipment of garment items.

Although the receipt is 0.51 percent higher than the monthly target of $2.94 billion, it was the lowest in six months.  

Overall, exports rose 6.41 percent year-on-year to $30.40 billion in the July-April period. The earnings narrowly missed the periodic target of $30.49 billion, according to data of the Export Promotion Bureau.

Garments exports grew 9.37 percent year-on-year to $25.30 billion in the first 10 months of the fiscal year.

Knitwear exports rose 11.43 percent to $12.54 billion and woven garments exports were up 7.42 percent to $12.76 billion. 

The shipment of garments, which account for more than 80 percent of the national export, grew because of the increased sales of high-value items and the depreciation of the local currency against the US dollar, according to exporters.

“We will be able to achieve more than 10 percent garment export growth at the end of the fiscal year as the trend in the international market shows very bright prospects,” said Siddiqur Rahman, president of the Bangladesh Garment Manufacturers and Exporters Association.

“At the end of the current fiscal year, we will be able to surpass the garment export of $30 billion for the first time," he said.

He said the country’s garment factories are full of orders from international retailers and brands, thanks to the massive progress in workplace safety carried out by the Accord, the Alliance and the government.