Bangladesh’s exports hit all-time high of over $52 bn in FY 2021-22

Bangladesh saw exports soar more than 34 per cent to $52.08 billion in the 2021-22 fiscal year (July 2021-June 2022), official data showed.

According to data released on Sunday by the Export Promotion Bureau (EPB) under the Ministry of Commerce, Bangladesh achieved the highest export earnings in the 2021-22 fiscal year with the final months recording robust income growths.

“In the 2021-22 fiscal year, exports reached $52,082.66 million, setting a new record,” said the EPB.

With $4.91 billion in export earnings in June, up 37.19 per cent over the same period a year ago, the country’s overall export earnings in the last fiscal year exceeded the target of $43.50 billion, Xinhua news agency reported.

Bangladesh’s export income in the 2020-21 fiscal year (July 2020-June 2021) was recorded at $38.76 billion.

As always the growth in the 2021-22 fiscal year was largely attributed to the demand for ready-made garments.

Bangladesh’s earnings from garment export, which make up more than three fourths of the country’s annual incomes since the beginning of this decade, surged to $42.61 billion in the 2021-22 fiscal year, according to the EPB.

Knitwear garment export grew 36.88 per cent year-on-year to $23.21 billion while woven garment export rose 33.82 per cent to $19.40 billion.

During the cited period, many other traditional export items like frozen foods, home textiles, leather and leather products and footwear also performed well, showed the EPB data.

–IANS

int/khz/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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