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Export earning went up 16% more in July, 2023 for Bangladesh

BTJ Desk Report
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Export earning went up 16% more in July, 2023 for Bangladesh

In July, Bangladesh’s export earnings continued to demonstrate resilience and growth, contributing to the country’s economic stability. Despite global challenges, the country achieved a notable surge in export earnings during the month.

In the month of July, the first month of this new fiscal year, Bangladesh’s export earnings reached a significant milestone, totaling 4.6 billion USD. This represents a 16% increase compared to the same period last year when it was 3.36 billion USD. The growth can be attributed to several factors, including the recovery of key international markets and sustained demand for the country’s main export products.

Out of the total export, 3.95 billion USD came from apparel sector. Knitwear contributed 2.26 billion USD whereas woven shipment brought 1.51 billion USD.

Textile and garment products remained the primary contributors to this positive performance, accounting for a substantial portion of the total export earnings. The sector’s ability to adapt to changing global dynamics and maintain competitive pricing played a pivotal role in driving this growth.

Additionally, the expansion of export destinations has further diversified Bangladesh’s markets, reducing dependency on specific regions. This strategic diversification has contributed to the consistent growth of export earnings.

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