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RMG sector earns around $ 26 bn in July-March

Country’s export earnings from the RMG industry in the first nine months of FY19 were $ 25.95 billion, an increase of 13.65 percent from $22.83 billion in the corresponding period of FY18.

The export earnings were 7.40% higher than the target of $24.16 billion set by the government for the period.

“Country’s export earnings maintained a moderately good growth which is almost double the target set by the government and we hope the annual earnings would exceed the target at the end of the year,” said Khondaker Golam Moazzem, Research Director, Centre for Policy Dialogue.

 

As the export income growth largely depended on RMG products the country had failed to utilize the potential of other products, including jute and jute goods and leather products, he added.

In this respect, he recommended addressing the specific challenges for specific products to ensure sustainable export growth in the future.

Export Promotion Bureau data showed that the earnings from woven garments in the nine-month period of FY19 grew by 14.22 percent to $13.15 billion from $11.51 billion in the same period of the last fiscal year.

On the other hand, the knitwear export revenue in the period went up by 13.07 percent to $12.80 billion compared to the same period of FY18.

The specialized textile sector saw a 36.63% growth to $112.5 million from $82.34, while home textile products saw a negative growth of 3.36% to $647.34 million, down from $669.87 million.

Among other major sectors, export earnings from leather and leather goods witnessed a 9.08% negative growth to $771.69 million during the period, down from $848.79 million during the same period of FY2017-18.

Jute and jute goods, the third export earning sector, also registered a 23.23% negative growth to $628 million, which was $818 million during the same period in the previous fiscal year.

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