Merchandise exports from Bangladesh fell 3.15 per cent year-on-year to $31.91 billion in the first eight months of the current fiscal year, shows data of the Export Promotion Bureau (EPB).
According to industry people, this decline is due to prolonged factory closures centring the national polls and extended government holidays.
The garments sector, the country’s single largest export earner, secured $25.80 billion in the July-February period, down 3.73 per cent year-on-year.
Knitwear’s contribution of $13.69 billion reflected a 4.56 per cent decrease from the year before while receipts from woven apparels shrank 2.79 per cent to $12.11 billion.
The decrease mostly came in February, when garment exports dropped steeply by 13.21 per cent year-on-year to about $2.82 billion.
Knitwear exports that month amounted to $1.40 billion while shipments of woven items totalled $1.42 billion, down 15.46 per cent and 10.86 per cent, respectively.
Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association, said last month’s shipments were lower as factories were open for only 17 days.
“They were closed on the remaining days for the election and other holidays,” he added.
Hatem further informed that they received fewer export orders amid uncertainty centring the national polls and there is little hope of it returning to a growth trajectory before June.
Overall exports in February stood at $3.50 billion, down 12.03 per cent year-on-year.
In terms of monthly performance, merchandise shipments declined 20.81 per cent in February compared to receipts collected in January.
However, a handful of sectors manages to register export growth during the same period.
Leather and leather product shipments earned $790.90 million over the past eight months, marking a rise of 4.41 per cent year-on-year.
Home textile exports raked in $593.43 million while jute and jute goods generated $550.30 million, notching annual growth of 2.67 per cent and 0.44 per cent, respectively.
Engineering products posted the strongest growth among major segments, with shipments surging 23.42 per cent to $418.12 million.
Also, exports of manmade filaments and staple fibres edged 0.74 per cent to $269.48 million.
However, cotton and cotton products was among the key sectors that saw notable decline, fetching just $340.87 million as shipments fell 16.79 per cent from a year earlier.
Plastic product exports slipped 2.23 per cent to $199.11 million while shipments of agricultural goods, excluding processed items, decreased 10.01 per cent to $668.17 million.
Likewise, paper and paper product exports declined 11.51 per cent to $176.12 million.
The latest data indicates that although diversification efforts in sectors such as engineering and leather are gradually gaining momentum, Bangladesh’s overall export performance remains heavily reliant on garments.
As such, the country remains susceptible to shifts in global apparel demand and pricing pressures.
Mohiuddin Rubel, former director of the Bangladesh Garment Manufacturers and Exporters Association, said the sharp fall in exports in February reflects persistent weakness in key Western markets.
He further said that global demand remains subdued amid inflationary pressures and cautious retail inventory management, which has translated into lower work orders and tighter prices for Bangladeshi exporters.
Rubel added that sustaining competitiveness through productivity improvements, compliance, and product diversification would be critical to weathering the ongoing slowdown.
