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Bangladesh exports $25.94 billion in first three quarters

Bangladesh has posted $25.94 billion earnings from export in first nine month of the current fiscal year 2016-17 which is 3.97% higher compared to $24.95 billion earnings in the same period in last year.
The Export Promotion Bureau (EPB) released the data on Wednesday the total export earnings of last nine months, July-March period of FY2016-17. About 82% of the total export earnings come from the apparel industry.

However, the figure fell 4.30% short to meet the target of $ 27.11 billion set by the government for the period.

Meanwhile, manufacturers have blamed relocation and price fall for the slow growth in RMG export earnings that caused slower growth in overall export.

On the other hand, in March 2017, Bangladesh fetched $3.11 billion, which is 9.83% higher compared to $2.83 billion in the same period of last year.

RMG sector, the lifeline of the export earnings, earned $20.92 billion posting a 2.39% rise compared to $20.44 billion in the same period in last year.

Knitwear products earned $10.14 billion, 4.85% higher, which was $9.67 billion in the previous year.
While, woven products earnings is $10.78 billion, almost same compared to last year which was $10.76 billion.

The export growth of the RMG sector is too slow to achieve the target of $50 billion. To achieve the target by 2021, the sector will has to attain over 12% growth while the average growth of nine month is only 2.39%.

Source: Daily Sun, Dhaka, Bangladesh

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