Export hits fresh peak

Export earnings hit a new record in December as manufacturers fetched almost $5 billion, backed by the surge in demand from international retailers in Europe and the US.

Last month's earnings were 48.27 per cent higher year-on­-year as exporters raked in $4.9 billion. It was $3.3 billion in the same month in 2020, according to data from the Export Promotion Bureau yesterday.

December's receipts surpassed the previous single month highest export of $4.72 billion in October last year.

Thanks to the robust export earnings, overall exports grew 32 per cent year-on-year to $44.22 billion in 2021 from $33.6 billion in 2020.

Exports are setting fresh records almost every month because of the higher shipment of goods, especially garment items, thanks to the reopening of western economies following the improvement of the Covid-19 situation.

Exporters attribute the government's bold decision to allow factories to run during the peak of the pandemic for the significant rise in the shipment as many factories around the world were shut.

EPB data showed earnings grew 28.41 per cent to $24.69 billion between July and December, the first six months of the current fiscal year.

Garment shipment rose 28.02 per cent to $19.9 billion. Of the sum, $11.16 billion came from knitwear sales, up 30.91 per cent, and $8.73 billion from woven items, an increase of 24.50 per cent.

"The upward trend of garment export will continue up to June this year as we have received plenty of orders," said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association.

He says the buyers have also raised the prices of per unit garment items between 10 per cent and 12 per cent. The volume has risen by 15 per cent in the last few months.

"Buyers have increased the prices of garment items mainly because of the hike in raw materials such as yarn and fabrics, and freight charge. So, the real value of the cutting and making charge has not gone up."

The shipment of leather and leather goods increased 26.41 per cent to $563.96 million between July and December.

Exports of frozen and live fish, agricultural products, fruits, cement, pharmaceuticals, yarn, terry towel, home textile, ceramics, furniture and bicycle increased.

The shipment of jute and jute goods declined 12 per cent, suffered by falling exports of the biggest exportable item jute yarn, mainly in Turkey in the face of the declining exchange rate of the Turkish lira against the US dollar.

Higher prices of raw jute in Bangladesh also influenced a section of importers abroad to switch to less expensive regenerated cotton to use in carpet making, industry people say.