Bangladesh's export earnings grew by 14 per cent year-on-year in August this year following a more than 11 per cent slump a month ago.

Riding on apparel shipments, the country raked in $3.38 billion. However, the export earnings are still 8.84 per cent short of the monthly target of $3.71 billion, according to data from the Export Promotion Bureau (EPB).

In July and August combined, the earnings declined by 0.31 per cent year-on-year, which was $6.87 billion in the same period last year and it remained 7.84 per cent below the export target of $7.44 billion for the period, said the EPB.

The readymade garment sector recorded an 11.56 per cent growth year-on-year last month with exports worth $2.75 billion, up from $2.46 billion last year. But the apparel sector's shipment slightly decreased by 1.27 per cent year-on-year to $5.64 billion in July and August in 2021.

Mohiuddin Rubel, Director, gladesh Garment Manufacturers and Exporters Association (BGMEA), said the growth in August was the result of shipments that had piled up due to factory closure on the occasion of Eid-ul-Adha in July.

On the back of high yarn prices, knitwear exports grew by17.19 per cent growth, while woven garments exports increased by 4.48 per cent rise in August.

By Fashionating World
https://www.fashionatingworld.com/new1-2/bangladesh-export-earnings-grow-by-14-in-august-2021