Products that drive Bangladesh’s exports in pandemic

The ongoing Covid-19 pandemic for over a year has gravely wounded the country’s manufacturing industries, but products that are used mostly in homes appeared as a saviour for the economy, Export Promotion Bureau data shows.

For example, Bangladesh’s export of home textiles saw a 41-percent year-on-year growth during July-March period of the current fiscal year. The country earned $846 million from export of home textiles during the period.

As many people are confined to their homes for over a year, they are using knit-made T-shirts and trousers, which have increased Bangladesh’s export by 5.85 percent to over $12.65 billion during the period.

Similarly, exports of frozen fish, dry food, jute goods, bicycle and pharmaceuticals from Bangladesh have witnessed a robust growth during the pandemic.

On the other hand, export of woven products, vegetables, furniture and leather goods all witnessed a negative growth, which has brought down Bangladesh’s overall export growth to negative 0.12 percent during July-March this year.

Yet, Bangladesh’s export earnings increased by over 12 percent year-on-year in March though it was well below the target the government set at the beginning of the current fiscal year. March’s export saw a good growth because export fell significantly in March last year as the Covid-19 pandemic devastated the global supply chain and sourcing of raw materials.

According to EPB, the country’s export performance for March 2021 was $3.07 billion, down by nearly 11 percent than the target of nearly $3.45 billion.

Overall export earnings of the country stood at $28.94 billion for July-March.