The country's export earnings experienced a 2.01 percent increase in the first eleven months, from July to May, of the fiscal year 2023-24 (FY24), reaching a total of US$ 51.54 billion. This compares to $50.53 billion during the same period of the last fiscal year.

Data from the Export Promotion Bureau (EPB) indicates that overall earnings for May stood at $4.07 billion. The apparel sector, which is the dominant contributor to the country’s exports, saw a year-on-year increase of 2.86 percent, earning $43.85 billion from July to May in FY24, up from $42.63 billion during the same period in FY23.

Within the apparel sector, knitwear exports rose by 6.15 percent to $24.70 billion, while woven garments experienced a slight decline of 1.09 percent, totaling $19.14 billion.