Bangladesh’s export income jumps 11.45pc in May after April’s fiscal low

April sits at the bottom of the fiscal export chart with $3.02 billion

Bangladesh has earned $4.74 billion from merchandise exports in May, marking an 11.45 percent year-on-year rise, after posting the lowest monthly total of the fiscal year in April.

According to fresh data from the Export Promotion Bureau (EPB) released on Tuesday, the country fetched nearly $45 billion in export earnings in the first 11 months of the FY2024.

This marks over 10 percent growth from $40.85 billion earned in the same period of the previous year.

According to EPB, garment exports alone brought in $3.92 billion in May, up 11.85 percent from $3.5 billion in May 2023.

Over the July-May period, apparel shipments totalled $36.56 billion--accounting for around 81 percent of total exports and reflecting a year-on-year growth of 10.2 percent.

Home textile exports rose by nearly 10 percent in May, reaching $84 million compared with $76.6 million in the same month last year.

Leather and leather goods posted the highest sectoral growth last month.

The segment generated $125.2 million, up 35.1 percent from $92.7 million in May 2023.

Over the 11-month period, exports from this sector crossed the $1 billion mark, standing at $1.06 billion--up 12.55 percent from $939.8 million a year earlier.

Jute and jute goods exports also saw improvement in May, earning $84.5 million compared with $72.3 million last year, posting a growth of nearly 17 percent.

From July to May, the sector brought in a total of $769 million.

April remains the weakest month for exports in the ongoing fiscal year, with earnings falling to $3.02 billion.

The previous low was recorded in September, when exports stood at $3.52 billion.