Export earnings witnesses 3.80% growth in August

The country’s export earnings of goods in August witnessed a 3.80 percent growth compared to the same month last year.

The country’s export earnings in August totaled $4,782.19 million which was $4,607 million in August last year, according to the latest statistics of the Export Promotion Bureau (EPB).million,

However, the single-month export earnings in August were 1.81 percent less than the strategic export target of $4,870 million.

The EPB figures revealed that the export earnings of goods during the July-August period of the current fiscal year (FY24) witnessed a healthy growth of 9.12 percent, totaling $9,375.11 million against $8,591.82 million fetched during the same period of the last fiscal year (FY23).

This growth was propelled by an acceleration in the shipment of apparel items, which will help the country to boost its foreign currency reserves.

The RMG items continued to dominate the export earnings in August with a healthy 12.46 percent growth, bagging $7,998.59 million, of which the highest amount of $4,582.21 million came from knitwear while $3,416.39 million came from woven garments.

The other commodities — live fish, agricultural products like vegetables, fruits, betel leaves, manufactured commodities, plastic products, rubber, leather products, wood and wooden products, cotton and cotton products, — also experienced positive growth compared to the same period of last year. (BSS)