In May, Bangladesh’s export earnings dropped significantly, showing a 16.06% decline year-on-year to $4.07 billion, missing the monthly target by 23.75%. This decline was mainly due to a 17.19% fall in readymade garment exports.
Over the July-May period of FY2022-23, overall exports grew slightly by 2.01% to $51.54 billion, yet were 8.47% below the target. Garment exports, dominating the total, increased by 2.86%. However, home-textile exports fell by 24.29%. The decline is attributed to reduced global demand, high inflation, increased production costs, and decreased garment prices. Additionally, various other sectors, including leather and engineering products, also saw declines in export earnings.
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