Exports climb 15.26% in July

Bangladesh's exports soared 15.26 percent year-on-year in July driven by an acceleration in the shipment of readymade garments, official figures showed today.

Exporters fetched $4.59 billion in the first month of the new fiscal year of 2023-24, up from $3.9 billion in the same month a year ago, according to the Export Promotion Bureau (EPB).

The higher shipment is expected to provide a much-needed boost to the country's falling foreign exchange reserves as imports bills continue to outstrip overall receipts from exports and remittances.

In July, garment export jumped 17.43 percent year-on-year to $3.95 billion.

It comes a day after the Bangladesh Bank said remittance inflow through legal channels fell nearly 6 percent in July.