Export earnings double to $3.11 billion in May

Export earnings doubled year-on-year to $3.11 billion in May this year thanks to a rebound in garment shipment.

In May last year, the receipt from the merchandise shipment was $1.46 billion, the second lowest single month earning in the last more than a decade because of the fallouts of the Covid-19 pandemic.

In the first 11 months of the outgoing fiscal year, Bangladesh earned $28.57 billion from garment export, registering an 11.1 percent year-on-year growth, according to data from the Export Promotion Bureau (EPB) today.

Of the total earnings from garment sector, which typically contributes 84 per cent in the national export in a year, some $15.36 billion came from knitwear shipment and some $13.19 billion from woven, registering 20.55 per cent and 1.80 per cent year-on-year growth respectively.

During the time, apart from the apparel items, jute and jute goods export grew by 33.23 per cent to $1.08 billion, leather and leather goods by 14.43 per cent to $846.08 million.

Frozen food and live fish export grew by 0.98 per cent year-on-year to $430 million, agricultural products rose by 16.13 per cent to $905.99 million and pharmaceuticals export grew by 18.99 per cent to $145.44 million.

The overall earning between July and May also increased by 13.64 per cent to $35.18 billion.