Bangladesh exports grow in March, but miss target as COVID recovery continues

  • Staff Correspondent, bdnews24.com
    Published: 2021-04-06 19:32:22 BdST

bdnews24

Bangladesh’s export earnings in March have grown 12.59 percent year-on-year to $3.07 billion, but missed the target by 10.79 percent as the world grapples to recover from the ripple effects of the coronavirus pandemic.

With the export growth in the negative zone in the first two months of the year, the country earned more than $28.93 billion in the July-March period of 2020-21 fiscal year with a 0.12 percent year-on-year drop.

The export earnings in these nine months also missed the target by 4.43 percent. The export target for the 2020-21 fiscal year is $41 billion.

Data released by the Export Promotion Bureau on Tuesday showed knitwear exports continued to boost the earnings by posting a 5.85 percent growth to $12.65 billion in the July-March period.

The main item of the apparel industry, woven products, remained in the red zone as the most of the world, including Bangladesh, is fighting a new wave of coronavirus infection with strict restrictions.

In Bangladesh, factories have remained open amid a weeklong lockdown to curb the COVID resurgent. In the West, the major market of Bangladesh’s products, especially readymade garments, the situation has improved in the UK, but the rest of Europe and the US are still facing difficulties in containing the outbreak.

Exports of jute and jute products, home textile, leather and leather goods have grown, but the amounts are still low.