Exports slightly drop in July-Feb period

The country's earnings from export of merchandise goods during the first eight months of the current fiscal year (FY), 2020-21, fell short of the strategic target by 3.61 percent and reached US$ 25.86 billion.

Besides, the total export receipts during the July-February period of this fiscal also declined by 1.45 percent over that of the corresponding period of last fiscal, according to the Bangladesh Export Promotion Bureau (EPB) data.

Bangladesh fetched nearly $26.24 billion through shipment of goods during the first eight months of FY 2019-20. 

Besides, the country's export earnings in February 2021 also dropped by nearly 4.0 percent from that of the corresponding month in 2020, the EPB figures showed.

Such downtrend in the aggregate export earnings was primarily due to declining in the earnings from shipment of ready-made garment (RMG) products, specially woven, during the July-February period of the current fiscal.

The total export receipts from RMG products - knitwear and woven - during the July-February period of FY 21 fell by 3.73 percent to over $21.03 billion compared to that of the matching period of last fiscal.

Of the RMG items, export receipts from woven garments during the July-February period of the current fiscal declined by 11.49 percent to $9.69 billion.

During the first eight months of last fiscal, the country's woven garments fetched nearly $10.95 billion, according to the EPB. 

However, the export value from knitwear items grew by 4.06 percent to $11.34 billion in the period under review of FY 21 over that of nearly $10.90 billion in the last fiscal. 

Earnings from home textile export also saw a big rise by 38.92 percent to reach $730 million during the first eight months of this fiscal over the matching period of FY 20. 

Export proceeds from jute and jute goods also increased by 23.67 percent to $862.74 million during this July-February period from $697.63 million in the same period of last fiscal. 

Exports earnings from agricultural products, however, dropped by 2.06 percent to $591.49 million during the July-January period of FY 21.

On the other hand, export value from leather and leather goods fell by 4.15 percent to reach $605.67 million during the first eight months of this fiscal over that of $631.89 million in the same period of last fiscal.

Earnings from the export of frozen and live fishes declined by 10 percent to $338.01 million. Pharmaceuticals export income stood at $96.84 million, marking a 13 percent growth.

The country's export earnings have experienced a declining trend in the last couple of months. 

The export earnings have been witnessing a downward trend since early 2020 mainly due to the Covid-19 pandemic, although the exports entered positive territory last July, as per the EPB data.