Exports rise 6.4 percent in first nine months of FY 2017-18

Bangladesh’s export earnings have jumped 6.4 percent during the first nine months of this fiscal year, compared with the same period a year ago, on the back of RMG export surge.

The export earnings from July through March in FY 2017-18 clocked $27.5 billion, which was about $26 billion in the corresponding period of last fiscal year, according to Export Promotion Bureau latest data released on Tuesday.   

However, export earnings in those nine months are marginally short of the $27.6 billion target.

During the period, clothing export went up 9.2 percent to $22.9 billion from $21 billion of the last fiscal. The knitwear and woven garments, the two largest export earners, registered 11.7 percent to over $10 billion and 6.8 percent to more than $10.8 billion growth, respectively, in the same period. 

Finance Minister AMA Muhith told bdnews24.com demand for apparel products in the USA and EU countries has increased, thereby positively impacting the RMG export growth. “With the global economy recovering, the demand for our products has increased.”

During the period, export of agriculture products registered a 15.46 percent growth, followed by jute and jute goods at 11.2 percent and frozen foods 6.6 percent.