Bangladesh witnesses a massive rise in exports

September 27, 2022 written by

In the fiscal year July 2021-June 2022, Bangladesh saw its exports rise greatly, over 34% to reach about $52.9 billion as per official data by the Export Promotion Bureau (EPB).

Furthermore, the data stated, under the Ministry of Commerce, the country achieved its highest export earnings in that financial year, with robust growth in the final months.

The export earnings hit $4.91 billion in June, which was up 37.19% more than the same period in the previous year. Thus, the exports of the country in the last financial year exceeded the target of $43.50 billion. In 2020-21, the country’s exports were $38.76 billion.

The demand for readymade garments boosted the growth in the 2021-2022 financial year. According to the EPB, Bangladesh’s earnings from garment export shot up to $42.61 billion in fiscal year 2021-22. The garment exports contribute to over three-fourths of its annual earnings.

Knitwear garment exports grew 36.88% year-on-year to $23.21 billion, while woven garment exports went up 33.82% to $19.40 billion.

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