Export earnings fall by 6.05pc in November

Bangladesh’s export earnings in November 2023 fell by 6.05 percent year-on-year to US$4.78 billion, according to Export Promotion Bureau (EPB) provisional data.

The decline was driven by a significant drop in shipments of ready-made garments (RMG), the country's main foreign currency earner.

The RMG sector fetched $4.05 billion in November, down by 7.45 percent from the same month last year.

Apparel shipments were particularly weak in the knitwear subsector, which generated $2.31 billion, down by 3.18 percent.

Earnings from woven garments also fell by 12.59 percent to $1.73 billion.

The single-month overall earnings in November also fell short of the target by 8.94 percent, according to the EPB.

However, the overall export earnings in July to November of fiscal 2023-24 recorded a sluggish growth of 1.30 percent to $22.23 billion, compared to $21.94 billion during the same period of fiscal 2022-23.

The overall earnings fell short of the $24.49 billion target by 9.23 percent in the July-November period of the current fiscal year.