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.