Bangladesh has posted the highest ever single-month export earnings of $4.72 billion in October due to the record shipment of readymade garment products.

 
Earlier, the monthly highest earnings were recorded in September with the exports worth $4.16 billion.

Experts and exporters said that it was encouraging that the export earnings were rebounding but the earnings in real term would be lower than the amount showed in the export data as the prices of all raw materials increased.

They said that both the unit prices and the orders of RMG products were increasing as buyers shifted orders from China to other countries.

According to the Export Promotion Bureau data released on Tuesday, the export earnings in October of the current financial year of 2021-22 grew by 60.37 per cent or $1.78 billion year-on-year from $2.94 billion in the same month of FY 2020-21.

‘It is very good for us as the export earnings are rebounding. But I think the ongoing export growth is not price driven rather volume driven,’ Centre for Policy Dialogue distinguished fellow Mustafizur Rahman told on Tuesday.

He said that the prices of products increased a little bit as the prices of raw materials increased on the global market, but the local value addition remained unchanged.

Apparel exports in July-October of FY22 grew by 20.78 per cent to $12.62 billion from $10.45 billion in the same period of FY21.

Export earnings from readymade garment in October 2021 fetched $3.56 billion with a 53.28-per cent growth.

‘It is encouraging for Bangladesh as apparel exports are rebounding. But analysing the export data, we will have to consider the price hike of raw materials,’ said Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association.

He said that the prices of products increased but the ratio was not same with the increase of raw materials’ prices.

‘But it is true both the quantity of orders and the prices of products increased in recent times,’ Fazlul said.

Exports earnings in July-October of FY22 increased by 22.62 per cent to $15.75 billion from $12.84 billion in the same period of FY21.

Earnings from woven garments export in the four months of FY22 increased by 16.41 per cent to $5.41 billion from $4.65 billion in the same period of the past fiscal year.

Export earnings from knitwear in July-October of FY22 increased by 24.27 per cent to $7.21 billion from $5.80 billion in the same period of FY21.

Shahidullah Azim, vice-president of the Bangladesh Garment Manufacturers and Exporters Association, said that it was a good sign that the global apparel market was peaking up.

He said that Bangladesh’s apparel export had achieved an encouraging growth in recent months due to the increased orders shifted from China and Myanmar.

Export earnings from leather and leather goods in the four months of FY22 increased by 28.85 per cent to $364.9 million from $283.2 million in the same period of FY21.

Export earnings from leather-footwear in the period grew by 23.26 per cent to $226.14 million from $183.62 million while other leather products fetched $96.29 million with a 45.34-per cent growth.

Earnings from the home textile export in July-October of FY22 increased by 16.52 per cent to $412.78 million from $354.25 million in the same period of FY21.

Export earnings from agriculture products in the four months of FY22 grew by 29.34 per cent to $464.11 million from $358.82 million in the same period of FY21.

Export of jute and jute goods, however, fell by 24.11 per cent to $332.98 million from $438.78 million, the data showed.

Export earnings from frozen and live fish grew by 17.46 per cent to $225.23 million from $191.75 million while the shrimp export increased by 33.22 per cent to $181.07 million in the four months of FY22.

Export earnings from engineering products in July-October of FY22 grew by 142.49 per cent to $339.73 million from $140.1 million in the same period of FY21, the EPB data showed.