exports

Bangladesh exports down 11.7pc

MNA Business Desk: Bangladesh’s exports fell to $3.2 billion in August, down 11.7 per cent from a year earlier and nearly 1 per cent below target, reported news agency.

But for July and August, the first two months of the country’s 2018-19 financial year, exports rose 2.5 per cent to $6.79 billion from a year earlier, the Export Promotion Bureau said.

Shipments of readymade garments, comprising knitwear and woven items, totalled $5.74 billion in July and August, up 3.8 per cent on the year.

Exporters attributed the drop in August to holidays for the Muslim festival of Eid al-Adha.

The garments industry is a key foreign-exchange earner for the South Asian nation, whose low wages and duty-free access to Western markets have helped make it the world’s second-largest clothing exporter after China.

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