In a setback for the export sector, shipments declined in April 2024, primarily attributed to a slowdown in garment shipments and a persisting downturn in other key sectors.
Data released by the Export Promotion Bureau (EPB) revealed that the nation exported goods worth $3.91 billion in April, marking a marginal decrease of 0.99 percent compared to last year.
Despite the subdued performance in April, the cumulative exports for the July-April period of the 2023-24 fiscal year exhibited a modest uptick, with shipments totaling $47.47 billion, reflecting a 3.93 percent increase year-on-year.
The cornerstone of Bangladesh’s export landscape, the readymade garments sector, witnessed a mixed performance. While exports of readymade garments, which typically contribute 85 percent of the total export receipts, registered a growth of 4.97 percent year-on-year, reaching $40.49 billion in the ten months leading up to April this year, the growth trajectory was primarily fueled by buoyant demand in knitwear.
Conversely, the growth of woven garment exports remained relatively stagnant, further exacerbating the sector’s challenges.
Other major exporting sectors, including leather and leather products, jute and jute goods, home textiles, and frozen and live fish, encountered a decline in shipments during the period under review, as indicated by the EPB data.
