The total exports in Bangladesh for the first half of the fiscal year 2019-2020 fell by 5.84 per cent according to the official data revealed on Monday. The total exports reached $19 billion which is lesser than the previous year. Bangladesh's Export Promotion Bureau said that the country fetched $19,302.16 million in exports in the first six months.
The EPB data showed export performance for December was $3.53 billion, 2.89 per cent lower than that in the same month a year ago.
Earnings from garment items has slowed down
A Bureau official said overall export income plunged as earnings from garment items have been experiencing slowdown for months.Readymade garment exports from Bangladesh fell by 6.21 per cent to about $16 billion in the first half of the current 2019-20 fiscal year, said the official.
Bangladesh set its export target in 2019-20 fiscal year at $45.50 billion, including $38.20 billion from ready-made garment products, the EPB data showed. Currently, Bangladesh is world's second-biggest apparel exporter after China. It garment exports include knit wear and hosiery, which account for 80% of exports revenue and others include jute goods, home textile, footwear and frozen shrimps and fish.
(With inputs from agencies)