Country's exports earning drop to 18% in March

The country's export earnings fell sharply in March, dropping 18 per cent year-on-year to $3.45 billion, according to the Export Promotion Bureau (EPB).

This marks the eighth consecutive month of decline, with March recording the steepest drop.

The ready-made garments (RMG) sector, which accounts for over 80 per cent of exports, saw nearly a 20 per cent fall.

Industry sources cited production disruptions due to extended Eid holidays and reduced international orders linked to the Middle East conflict as key reasons.

BGMEA President Mahmud Hasan Khan Babu noted that cautious international buyers and halted production contributed to the decline.

Rising fuel prices and global supply chain uncertainties also negatively impacted the sector, according to BKMEA President Mohammad Hatem.

Other export sectors, including leather, home textiles, jute, agricultural, and engineering products, also experienced declines, while plastics exports saw slight growth.

From July to March of the current fiscal year, total exports reached $35.39 billion, down nearly 5 per cent from the same period last year.