Business

Bangladesh Apparel Exports Plummet By 4%

Bangladesh's exports plummeted over 4% in October while its export earnings declined by 4.08% year-on-year to US$ 2.95 billion as shipments of apparel products took a hit due to the pandemic. However, the country's overall export earnings in July-October of FY21 grew by 0.97% to US$ 12.84 billion from US$ 12.72 billion in the same period of FY20, according to data from the Export Promotion Bureau. Apparel exports declined by 1.2% to US$ 10.45 billion in FY21 from US$ 10.58 billion in the same period of FY20. Shipments of woven items declined by 7.76% to US$ 4.64 billion even as knitwear exports in the four months of this fiscal year registered 4.76% growth to fetch US$ 5.80 billion from US$ 5.54 billion in the corresponding period of last fiscal year. Export of woven items in October fell by 14.43%, while knitwear exports marked a decline of 2.19%.