Bangladesh exports fall by 11.74pc in Aug on Eid holidays
Desk Report: Bangladesh’s export earnings fell by 11.74 per cent in August this year compared with that in the same month of last year because of Eid-ul-Azha holidays, reports New Age.
Total export earnings in August stood at $3.21 billion against $3.64 billion in the same month of last year.
Earnings from readymade garment export in August, 2018 decreased by 10.76 per cent to $2.71 billion from $3.04 billion in the same month of 2017, according to Export Promotion Bureau data released on Tuesday. Experts and exporters attributed the fall in export earnings in the month of August to the suspension of production and shipment of products for about 10 days during Eid-ul-Azha holidays. Eid-ul-Azha, one of the biggest Muslim religious festivals, was celebrated across the country in the third week of August. The country’s overall export earnings in July-August period of the current financial year (2018-19), however, achieved a minimal growth of 2.51 per cent with $6.79 billion against $6.62 billion in the same period of last fiscal year, the EPB data showed.