Exports fall 16% in May

Bangladesh’s merchandise exports fell 16.06% year-on-year to $4.07 billion in May 2024, according to the Export Promotion Bureau. This was 23.75% below the monthly export target. In the July-May period, exports grew a marginal 2.01% to $51.54 billion. Garment exports, contributing over 84% of total exports, grew only 2.86% year-on-year to $43.85 billion in the first 11 months of the fiscal year, indicating challenges in economic recovery despite robust remittance growth.File photo/Star