Bangladesh’s export earnings recorded another setback in May, falling 7 per cent year-on-year to $4.40 billion, largely due to a decline in ready-made garment (RMG) shipments, according to data released by the Export Promotion Bureau (EPB) on Wednesday.
The RMG sector, which accounts for more than 80 per cent of the country’s total export income, saw an 8.29 per cent drop during the month, bringing earnings down to $3.59 billion compared to the same period last year. The downturn in garment exports was the main factor behind the overall contraction in monthly export performance.
Despite a brief recovery in April after eight consecutive months of decline, the export sector was unable to maintain momentum, with May once again reflecting weakening demand in key markets.
On a broader scale, exports for the July-May period of the current fiscal year also showed a negative trend. Total export earnings fell by 2.55 per cent to $43.79 billion compared to the same period a year earlier. Within this, RMG exports declined by 3.41 per cent, dropping from $36.56 billion to $35.31 billion.
Officials and analysts have pointed to the continued slowdown in garment shipments as the key reason behind the overall export weakness, given the sector’s dominant share in Bangladesh’s export basket. The repeated monthly declines highlight ongoing volatility in global demand and pressure on the country’s main export engine.
While other sectors have contributed modestly, they have not been strong enough to offset the losses from garments, keeping overall export growth in negative territory.
