Home textiles, agricultural products and leather and leather goods are gradually emerging to be export potential sectors, say industry leaders.
While these sectors performed well according to the export outlook of concluded FY22, experts deem their growth curves still below the achievable potential partly due to freight cost hike which hindered export.
For leather and leather goods export compliance turns out to be a major barrier for growth.
Jute and jute goods saw about 3% negative growth due to price hike of raw materials in the previous fiscal year.
According to the provisional data of Export Promotion Bureau (EPB), in July-June, the country’s diversified export basket contributed about 19% to the total export earnings of $52.08 billion, while apparel shipment alone accounts for more than 81%, which once went up to 84%.
EPB data shows, the home textile sector saw a 43.28% growth to $1.62 billion year-on-year while leather and leather goods earned $1.24 billion with 32.23% growth in the last fiscal.
Agricultural products recorded $1.16 billion with 13.04% growth, while the earnings were $1.02billion in FY21.
