Export earnings increase by 3.67%

Export earnings of the country rose to $31.79bn in the first 11 months of the FY 2016-17 from $30.66bn in the same period of the FY 2015-16. The number reflect a 3.67% increase in total export earnings. However, the latest Export Promotion Bureau (EPB) data showed a slower rise in earnings in the last month, when the country earned only $3.07bn. The figure is 8.52% less than the target of $3.35bn set for the month. In May 2016, the earnings stood at $3.03bn. The RMG sector, which is considered to be the lifeline of Bangladesh economy in terms of export earnings, earned $25.62bn with a 2.16% rise. But the sector failed to reach its target of $27.38bn. Some $12.50bn came from knitwear products, and woven garments saw a negative growth as earnings from woven products stood at $13.11bn, while the figure was $13.16bn in the last year. Earnings from the industry stood at $25.8bn in the last financial year, according to the EPB.