In a remarkable turn of events, the country’s export sector witnessed an impressive 3.80 percent surge in earnings during the month of August, in comparison to the same period last year.
According to the latest statistics released by the Export Promotion Bureau (EPB), the nation’s export earnings for the month of August reached an astounding $4,782.19 million, a significant increase from the $4,607 million recorded during August of the previous year.
However, despite this commendable performance, it’s worth noting that the single-month export earnings for August fell short of the ambitious strategic export target of $4,870 million.
Delving deeper into the data, EPB’s figures revealed an even more promising trend. The export earnings for goods during the July-August period of the current fiscal year (FY24) experienced robust growth, clocking in at an impressive 9.12 percent increase. The total earnings for this period amounted to $9,375.11 million, compared to $8,591.82 million during the same timeframe in the last fiscal year (FY23).
This outstanding growth can largely be attributed to the surge in the shipment of apparel items, which is poised to bolster the country’s foreign currency reserves.
In particular, the Ready-Made Garments (RMG) sector continued to reign supreme in the export earnings domain during August, boasting a remarkable 12.46 percent growth. The RMG sector achieved a staggering $7,998.59 million in export earnings, with knitwear contributing the lion’s share at $4,582.21 million, closely followed by woven garments at $3,416.39 million.
Furthermore, various other commodities, including live fish, agricultural products such as vegetables, fruits, betel leaves, manufactured goods, plastic products, rubber, leather products, wood and wooden items, as well as cotton and cotton products, all exhibited positive growth compared to the same period in the previous year.
