RMG export earning plummets by 18.45pc in FY 2019-20
The country's earnings from garment export in the outgoing 2019-20 fiscal year declined to 27.83 billion USD – an 18.45 percent decline compared to the previous fiscal year.
The sharp dip in the export earnings from RMG sector has been largely attributed to the ongoing Covid-19 pandemic.
The export earning target was 38.20 billion USD for the immediate past fiscal year.
Bangladesh exported 34.13 billion USD worth of RMG products in the 2018-19 fiscal.
RMG exports, which typically contributes to 84 percent of the national export, was lower in the last fiscal year as many factories were shut down in April due to the pandemic.
In June, the country earned 2.12 billion USD from garment exports, according to data from Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
In May the earnings from apparel export was 1.23 billion USD and in April the amount was 0.37 billion USD, the data added.