Bangladesh’s export earnings decline by 62pc in May

Bangladesh's single-month shipments in May declined by about 62 percent to $1.4 billion as Covid-19 outbreak has disrupted the global supply chain severely.

However, the country fetched $3.81 billion with 14.78 percent growth in May 2019, which was the highest single-month receipts in history, riding on the higher shipment of apparels.

Export earnings during July-May of the current fiscal year declined by 18 percent to $30.95 billion, which was $37.75 billion a year ago, according to the updated data of the state-run Export Promotion Bureau (EPB).

Readymade garments (RMG) sector witnessed a 62 percent decrease to $1.23 billion in May, which is 84.20 percent of total export earnings.

The apparel sector earnings were $3.24 billion in the corresponding period last year.

However, during July-May, the RMG exports stood at $25.70 billion against $31.73 billion in the same period last year.

Knitwear products earned $12.75 billion, down by 18.74 percent, while woven goods fetched $12.96 billion, posting a 19.22 percent fall against the same period of last year, as per the updated data of EPB.