Bangladesh's Exports Fell in August Despite Strong Growth in July

In August, Bangladesh's export momentum stalled, with a sharp decline of over 4.5 per cent after a strong performance in July. Despite the drop, total exports for the month remained near the four-billion-dollar mark.

The National Board of Revenue reported that exports for the first month of the fiscal year reached $4.76 billion, a significant 24.61 per cent increase. However, August saw a downturn, with exports falling to $3.88 billion. This represents a 4.67 per cent decrease compared to the $4.07 billion exported in August of the previous year.

According to exporters, this decline is a mix of seasonal and strategic factors. The ready-made garment (RMG) sector, the country's primary export, typically experiences slower activity from July through September.

Additionally, a rush to ship goods in July to beat the US retaliatory tariffs, which were anticipated to take effect on July 31, likely contributed to the dip in August. The tariffs were ultimately implemented on August 7.

The Export Promotion Bureau has not yet released a detailed breakdown of August's export data, so it is still unclear which specific products were affected to cause a slump in export.