According to the Export Promotion Bureau data, Bangladesh’s export earnings grew by 15% to $3.98 billion in the first month of the new fiscal year. RMG shipments accounted for over $3.36 billion of export earnings, showing 16.61% growth year on year. Of the receipts, more than $1,854 million came from knitwear shipments, while woven items fetched around $1,512 million. Comparing July 2022 to 21, the sectoral growth for leather products was less than 10%.
The global leather industry is worth nearly $400bn, of which Bangladesh’s share is less than 1%. Exports of leather, leather products, and footwear again reached $1 billion in Bangladesh, exporting $1.25 billion in 2021-22, representing a 32% increase over the prior year. According to the EPB data, The leather and leather goods market grew 9.82% to $99.41 million, which was $90.52 million during the same quarter last year. Apart from that, from Jan to June 2022, exports of leather, leather products, and footwear reached $667.39 million, an increase of 35% from the same period in the previous year.
During the same period of the last fiscal year, jute and jute products recorded a growth of 5.17%, reaching $63.91 million. As the second largest exporter of apparel products in the last fiscal year, home textiles registered a growth of 3.89% to $95.95 million from $92.36 million in the same period of last fiscal. Another promising export sector of the country, engineering products, grew by 31.88% to $43.56 million from $33.03 million last year. The fish, pharmaceuticals, and plastics sectors also did well in July, according to official data. In Bangladesh, total exports in the fiscal year 2021-22 reached $52.08 billion, up 34.38% from the previous year.