Export earnings have suffered major setbacks for two consecutive months amid the dollar-crisis. The rate of decline in export earnings in the recently concluded November is 6.05 percent. And in October, the export of goods decreased by 13.64 percent.
The Export Promotion Bureau (EPB) released the figures on Monday (December 4).
According to the statistics published by the Export Promotion Bureau-EPB, products worth 478 crore 48 lakh dollars were exported in November. In the same month last year, the amount was 509 crore 26 lakh dollars. In the previous month of October, the export of goods was 376 crore 20 lakh dollars, which was 13.64 percent less than the same month of 2022. Export income has been negative for two consecutive months.
The entrepreneurs of the main export product of the country said that their orders are decreasing. Its impact is evident in the latest figures on export earnings.
Adding the November figures, exports in the first 5 months of the current financial year 2023-24 have been worth 2,223 crore dollars, which is only 1.30 percent more than the same period (July-November) of the previous financial year. During this period, exports fell short by 9 percent compared to the target.
An analysis of EPB data shows that exports of most products except ready-made garments have declined. These include frozen food, jute and jute products, home textiles, engineering products etc.
According to EPB data, in the first 5 months of the current financial year, 1 thousand 884 crore dollars worth of garments have been exported. This export is 2.75 percent more than the same period of last financial year. Export of knitwear has increased by 8.66 percent among ready-made garments during the period under review. However, the export of oven garments decreased by 4.5 percent.