Bangladesh exports fall 6% to $4.8bn in November

The gloomy data came after worker unrest over pay hike demands roiled the apparel sector for several days in the beginning of November

Senior Correspondentbdnews24.com
Published : 4 Dec 2023, 01:46 PM
Updated : 4 Dec 2023, 01:46 PM

Bangladeshi exporters have shipped goods worth around $4.8 billion in November – a 27 percent rise from the previous month but a 6 percent year-on-year fall.

Exports last month also missed the target by 9 percent, according to data released by the Export Promotion Bureau on Monday.

Exports grew by around 15 percent in the first three months of FY24, but a 13.64 percent year-on-year decrease in October and the fall last month dragged down the growth to 1.3 percent so far this fiscal year.

The $22.23 billion earned in the first five months missed the target by 9.23 percent.      

The readymade garments sector, which contributes more than 80 percent to the country’s exports, posted $4.05 billion earnings in November, around 7.45 percent lower than it was in the same period last financial year.

The gloomy data came after worker unrest over pay hike demands roiled the apparel sector for several days in the beginning of November.

The sector saw the downturn with many factories closed amid violent protests by the workers.

Bangladesh then raised the minimum monthly wage for garment workers by 56.25 percent to Tk 12,500. The new wage will take effect from Dec 1.