Good news greets start of the fiscal year: Bangladesh exports rise 14.72% y/y in July

Export receipts grew 14.72 percent year on year to start fiscal 2022-23 on a positive note

Staff Correspondent
Published : 2 August 2022, 08:42 AM
Updated : 2 August 2022, 08:42 AM

Bangladesh's export receipts have grown 14.72 percent year on year in July to start fiscal 2022-23 on a positive note.

Exporters shipped goods worth $3.98 billion last month, 1.65 percent higher than the target, according to the data released by the Export Promotion Bureau (EPB) on Tuesday.

Garment exports rise 16.61 percent to $3.37 billion in July, surpassing the $3.16 billion target set for the month.

Buoyed by last year's earnings of $52 billion, the government has set a target of $58 billion in revenues from exports of goods and services for FY23.

The coronavirus pandemic and the Ukraine-Russia brought about numerous trade hurdles, triggering fears of a decline in Bangladesh’s export revenues. But the South Asian nation has maintained an upward trend so far.

The EPB data showed that July's export earnings were mainly propelled by the ready-made garments industry.

The sector outstripped its target for the month by 6.45 percent.

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