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Bangladesh's July-October exports hit nearly 11 bln USD on garment sales

Xinhua, November 7, 2016 Adjust font size:

Boosted by ready-made clothing sales, Bangladesh's total goods export income in the first four months of the current fiscal year (July 2016-June 2017) grew about 7 percent year on year to nearly 11 billion U.S. dollars, an official said Monday.

The Export Promotion Bureau (EPB) official told Xinhua that the country fetched a total of 10,791.65 million U.S. dollars from exports during July-October compared to 10,130.49 million U.S. dollars in the same period a year earlier.

Bangladesh shipped goods worth 2.71 billion U.S. dollars in October, the 4th month of the current fiscal year 2016-17, which was about 14.39 percent higher than the same month a year ago, said the official who preferred to be unnamed.

The export growth in the first 4 months of the fiscal year was attributed to demand for the country's ready-made garments in key global markets.

The export earnings, however, fell short of target of 11,584 million U.S. dollars set for the period, said the official.

Bangladesh set its export target for the whole 2016-17 fiscal year at 37 billion U.S. dollars, including about 30.38 billion U.S. dollars from readymade garment products, the EPB data showed.

In the July-October period, Bangladesh earned 8.82 billion U.S. dollars from garment exports with knitted items such as T-shirts growing 8.75 percent and woven items such as jeans rising 5.37 percent.

During the period, he said knitwear garment export stood at 4,535.14 million dollars while income from woven garments reached 4,286.30 million U.S. dollars.

Apart from garment, the EPB data showed that many of the major exportable items including jute and jute goods and leather and leather products had also good performance in the July-October period.

Bangladesh exports inched up 10 percent to 34.24 billion U.S. dollars in the last 2015-16 (July 2015-June 2016) fiscal year. Endit