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Govt estimates 13.42% export growth in FY19

  • Published at 09:40 pm July 1st, 2019
women rmg
Photo: Syed Zakir Hossain

The projection has been based on the average monthly export performance from July to May

Export Promotion Bureau (EPB) has estimated $41.59 billion export earnings in the just concluded 2018-19 fiscal year, up by 13.42% from last fiscal year.

The projection has been based on the average monthly export performance from July to May, a top EPB official said.

The estimated export growth, if finally takes place, will exceed the target of the government by $2.59 billion.

During July-May period of the FY19, Bangladesh bagged $37.75 billion from export, up by 11.92% from a year earlier.

Meanwhile, the government is going to set the export target at $44.40 billion from exports of goods for the current FY20, with an estimated 6.76% growth.

As per the estimation of the EPB on the current fiscal year, $34.94 billion out $41.59 billion will come from the apparel sector, which contributes over 84% to the total national export of the country. 

The growth of the RMG sector was projected at 14.20%. 

Of the $41.59 billion, knitwear products have been estimated to earn $17.27 billion with a 13.75% growth, and woven items to fetch $17.68 billion, up by 14.63% from last fiscal year.

During July-May of FY19, apparel sector earned $31.73 billion, up by 12.82% on $28.12 billion earned in the same period of FY18. 

Of the total, knitwear products earned $15.68 billion, which was 12.50% higher than the $13.94 billion earned during the same period of FY2017-18.

Woven products earned $16.05 billion, up by 13.13% from $14.18 billion during the same period of the previous fiscal year.