Bangladesh’s apparel exports flourished in May 2019, jumping to a receipt of over $3 bn, after seeing slowdown during the first quarter due to labour unrest. According to latest data of Bangladesh Export Promotion Bureau published on May 9, 2019, July-May 2019 period saw exports of $31.7 bn – a gain of 12.8 per cent on a year-to-year basis. Last year same period saw exports of $28.1 bn.
For the month of May alone, the exports receipt amounted to $3.3 bn. Last month, the receipt was $2.54 bn. Back in March the export was $2.82 bn. In February this was $2.9 bn followed by $2.4 bn in January. Notably, apparel manufacturers say that falling prices of apparel exports is hurting the industry most at this point of time. With fair pricing policies, the export growth could have been much higher than what is being witnessed, they say.
Further analysis shows, knitwear registered a receipt of $1.68 bn for the month of April. During the July-May period, the total receipt stood at $15.68 bn, up by 12.5 per cent. Compared to the $1.68 bn receipt in May, knitwear witnessed a receipt of $1.24 bn in April, $1.31 bn in March, $1.35 bn in February, $1.5 bn in January and $1.3 bn in December. Woven segment, on the other hand, witnessed a receipt of $1.65 bn, just a tad lower than that of what the knitwear segment fetched, in May. During the July-May period, the total receipt stood at $16.05 bn, with a gain of 13.1 per cent. In March, export receipt in this segment stood over $1.5 bn. This value was $1.55 bn in February, and $1.6 bn in both January and December.
The total export receipt of Bangladesh stood at $3.49 bn in May. The figure was a whopping gain of 14.7 per cent in comparison to May 2018. Also, it stretched more compared to the strategic export target of $3.4 bn by 9.23 per cent. Apparel exports accounted for over 94 per cent of the exports in April 2019.