Dhaka, Oct 09 (V7N): Bangladesh’s earnings from merchandise exports saw a year-on-year increase of 5.04%, reaching $11.37 billion in the first quarter (July-September) of FY2024-25, thanks to robust performance in the readymade garment (RMG) sector, as reported by the Export Promotion Bureau (EPB). This marks a rise from $10.82 billion during the same period of FY24.

In September alone, the export earnings were $3.5 billion, reflecting a 6.78% growth from the $3.2 billion recorded in September 2023, according to EPB data.

At a press conference, EPB Vice-Chairman Anwar Hossain stated that the figures now reflect real-time shipment data from NBR Asycuda World, with plans to release detailed monthly analyses going forward.

During the first quarter of FY25, the RMG sector, which accounts for 81.70% of total export revenue, earned $9.23 billion, a 5.34% rise compared to $8.82 billion in the same quarter of FY24. Knitwear exports increased by 5.72%, and woven garments saw a 4.85% increase.

Other sectors posted varied results. Leather and leather goods saw an 11.16% growth, while home textiles experienced a 1.21% decline. Jute and jute goods recorded a significant drop of 19.81%, while engineering products fell by 5.9%.

The primary export markets for Bangladesh in this period included the USA, Germany, the UK, Spain, and France.

EPB addressed earlier discrepancies in export data, attributing them to factors such as multiple entries of export products, stock lots, and issues in the supply chain. EPB, NBR, and Bangladesh Bank are collaborating to avoid such mismatches in the future.

Additionally, EPB announced plans for monthly discussions with stakeholders to identify new opportunities and products to boost exports in different regions.

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