The country’s export earnings of goods during the July-February period of the current fiscal year (FY23) maintained its healthy trend witnessing a growth of 9.56% compared to the same period of the last fiscal year (FY22).
According to the latest statistics of the Export Promotion Bureau (EPB), the country’s export earnings reached $37,077.68 million during this eight-month period against $33,843.45 million fetched during the same period of the last fiscal year.
However, the eight-month export target is 0.45% lower than the strategic export target of $37,244 million.
The EPB statistics also showed that the single-month export earnings also maintained their positive trend bagging $4,630.18 million in February, fetching a growth of 7.81%, against the export earnings of $4,294.53 million registered in February last year.
The single-month export earnings are also 3.68% lower than the strategic export target of $4,807 million.
Out of the overall export earnings during this July-February period, RMG still continued to dominate the earnings of greenbacks with $31,361.89 million with a healthy growth of 14.06%.
Out of that, knitwear accounts for the bulk of the earnings with $17,060.33 million having a growth of 13.21% while export of woven garments earned $14,301.56 million with a growth of 15.08%.
An abnormal trend has taken place in the export earnings of the country for the last few months.
The mentionable trend is that except the RMG sector, the major export earners of the country fetched negative growth which is alarming in sustaining the growth trend in the coming months.
Apart from the apparel sector, among other major earners, only leather and leather goods witnessed a positive growth of 6.04% to $78332.4 million, higher than $684.98 million in the same period of the last FY, making the sector the second earner.
With consecutive growth over a certain period, the earnings from the home textile sector have been declining since last November.
The sector earned $6769.9 million in July-February of FY23, fetching a negative growth of 22.53% from $993.8 million in the same period of the last FY.
The promising agricultural sector also witnessed a negative growth of 256.9% to $623.2 million in July-February period of FY23, lower than $853.2 million in the mentioned period of FY22.
The earnings from jute products also dropped by 23.68% to $610.08 million in the mentioned period, which was $799.42 million in the same period of the last fiscal year.
The engineering sector, another promising sector of the country, also experienced negative growth of 34.63% to $349.32 million in the July-February period of FY23, lower than $534.38 million in the same period FY22, EPB data stated.