Bangladesh’s export earnings posted a nearly nine per cent growth in the first eight months of the current fiscal year.

In the month from July the country’s earnings from exports were 8.92 per cent higher compared to a year ago. Earnings by the readymade garment sector, the major industry, increased 9.52 per cent from a year earlier.

In February, apparel exports increased by 12.29 per cent. In February exports registered a 13.60 per cent growth from the same month last year. The figure exceeded the target by 4.90 per cent.

The woven sector exported products to receive 9.48 billion dollars and export of knitwear products earned 8.64 billion dollars. Supply to destination countries as per orders helped the country achieve the export growth. Production capacity of manufacturers has been increased while there has been ample work orders from retailers.

Improvement of safety standards in the readymade garment sector, the peaceful political situation and new markets are contributing to getting a higher number of work orders from retailers.

However, the unit price has fallen, which is a matter of concern for the sector.The country’s apparel sector needs a eleven per cent growth to reach the 50 billion dollar export target by 2021.