Bangladesh’s rebound in export earnings in July: An indication of export revival?

After month-long, protracted export reversals, Bangladesh’s export earnings made a rebound this July with around 0.59 per year-on-year growth. As per figures provided by the rncountry’s Export Promotion Bureau (EPB), in July 2019, Bangladesh’s export earnings were US $ 3.88 billion which in this July stood at US $ 3.91 billion. The export earning this July is also around 44 per cent more than that of June. Further, apparel export raked in US $ 3.2 billion, which was 14.1 per cent more than the target set for July by the Commerce Ministry. However, it was less than the earnings of US $ 3.3 billion registered in July last year. Earnings from the knit items clocked a 4.30 per cent growth to touch US $ 1.75 billion, but receipts from woven items suffered a decline of around 8.43 per cent to US $ 1.49 billion during the month under review. It may be mentioned here that export revenue in the apparel industry witnessed a year-on-year decline of 18.29 per cent in March, 82.85 per cent in April and 61.57 per cent in May, as economies the world over went under lockdowns in a bid to curb the spread of the coronavirus pandemic. For more insights, click @ Apparel Resources