Export earnings grows 17.24pc in first 5 months of FY19
Export earnings from the country’s merchandise shipments during the first five months of the current fiscal year (FY) stood at $17.07 billion, marking 17.24 per cent growth over the corresponding period of last fiscal, according to official data, reports The Financial Express.
The exports fetched $14.56 billion during the July-November period of the FY 2017-18.
The export performance was 12.07 per cent higher than the target set for this period, data showed.
The single month earnings in November last grew by 11.94 per cent to $3.42 billion from $3.05 billion in 2017, according to the Export Promotion Bureau (EPB) data released on Wednesday.
The November performance also surpassed the target set for the month by 10.10 per cent.
Earnings from export of readymade garments (RMG) during the July-November of the current fiscal grew by 18.59 per cent to $14.18 billion from $11.96 billion in the corresponding period of last fiscal, according to EPB data.
The earnings also surpassed the target by 11.09 per cent.
The country earned $7.30 billion from knitwear exports during the period. It marked a growth of 17.0 per cent compared to $6.24 billion in the corresponding period of last fiscal.
Export of woven garments in the first four months of FY’19 grew by 20.33 per cent to $6.88 billion, from $5.71 billion in the same period of last fiscal.
The EPB data showed that earnings from home textile export witnessed an increase of 2.92 per cent to $340.7 million from $331.04 million.
Earnings from home textile, however, fell short of the target by 7.22 per cent during the July-November period of FY’19.
Jute and jute goods earnings in July-November in the current fiscal continued the declining trend. The sector earnings fell by 22.09 per cent to $351.5 million, from $451.15 million in the same period of the last fiscal year.
The country earned $434.7 million from leather and leather product exports in the first five months of FY 19, marking a 16.11 per cent negative growth during the period.
Earnings from leather footwear grew 4.54 per cent to $264.28 million in the July-November period.
Frozen and live fish exports in the first five months of the current fiscal witnessed a negative growth of 6.57 per cent to $254.51 million during the same period of the current fiscal, according to data.