Bangladesh exports hit new high

According to Bangladesh’s “Daily Star” report on January 3, Bangladesh’s export revenue hit a record high in December 2020, supported by surge in demand from international retailers in Europe and the United States. With a new record, Bangladeshi manufacturers earned nearly US$5 billion in revenue, a year-on-year increase of 48.27%, and exceeded the highest single-month export record of US$4.72 billion in October last year. Bangladesh’s overall exports increased by 32% year-on-year, from US$33.6 billion in 2020 to US$44.22 billion in 2021. The main reason is that after the COVID-19 situation improved, Western economies reopened and cargo shipments increased, especially apparel items. Bangladeshi exporters attributed the sharp increase in shipments to the Bangladeshi government’s bold decision to allow factories to operate during the peak of the coronavirus epidemic, as many factories around the world were closed. According to data from the Bangladesh Export Promotion Agency, Bangladesh’s export revenue increased by 28.41% from July to December 2020, reaching US$24.69 billion. Apparel shipments increased 28.02% to $19.9 billion. Among them, US$11.16 billion came from knitwear sales, an increase of 30.91%; US$8.73 billion came from woven products, an increase of 24.50%. Leather and leather products shipments increased by 26.41% to $563.96 million. Farooq Hasan, chairman of the Bangladesh Garment Manufacturers and Exporters Association, said: “The upward trend in garment exports will continue until June this year as we have received a large number of orders.” Bangladesh’s frozen and live fish, agricultural products, fruits, Exports of cement, pharmaceuticals, yarn, home textiles, ceramics, furniture, and bicycles also increased.