Growth in Exports Picked up in February

Finance Desk: In the last two months, the growth rate of overall product exports has increased slightly due to increase in product exports. Bangladesh exported goods worth 519 million dollars in the month of February, which has increased by 12.04 percent compared to the same month of the previous year. In February of the last financial year, Bangladesh earned an export income of 4.63 billion dollars.

On Monday (March 4), the Export Promotion Bureau (EPB) released the updated statistics on commodity exports.

On the other hand, exports have dropped 5 billion dollars for three consecutive months starting from February of the current financial year. Bangladesh achieved a similar milestone in the last financial year as well. This increase in export income will reduce the pressure on the country's foreign exchange reserves, and help to eliminate the instability of the dollar market, said those concerned.

According to the statistics, in the first 8 months (July-February) of the current financial year 2023-24, 3 thousand 845 million dollars worth of goods have been exported. This income is 3.71 percent higher than the same period of the previous financial year.

Exports of ready-made garments and agro-processed products have grown. However, exports of other major sectors such as frozen food, leather and leather products, jute and jute products, home textiles and engineering products declined.

According to EPB data, in the first 8 months of the current financial year, the export of ready-made garments was worth 3,286 million dollars, which is 4.77 percent more than the same period of the last financial year. Apart from this, agricultural processed products have been exported worth 640 million dollars. In this case, the growth is 3.49 percent.

It is known that Bangladesh recorded exports of more than 5 billion dollars for three consecutive months from November to January of the last financial year. Exports worth 5.72 billion dollars in January this year, which is the highest export in a month so far. Before that, goods worth 531 million dollars were exported in December.