Bangladesh's export earnings saw a 6.25% negative growth year-on-year in September this year, following a more than 14% growth a month ago.

According to data from the Export Promotion Bureau (EPB) released on Sunday, the country raked in $3.9 billion last month.

However, the earnings were $4.16 billion in the same period last year (2021), said the EPB.

After a slump in July, the country's export earnings made a strong comeback in August with $3.38 billion, riding on apparel shipments, especially knitwear products.

In July and August combined, the earnings declined by 0.31% year-on-year, which was $6.87 billion in the same period last year and it remained 7.84% below the export target of $7.44 billion for the period. 

According to EPB, After 13 months of much needed recovery of the apparel export from pandemic and promising growth, export declined by 7.52% in September 2022 compared to same month of 2021. 

During the first quarter of FY2022-23, apparel shipments reached $10.27 billion, which is 13.41% higher than the previous year's corresponding time. 

BGMEA already shared early indication of growth slowdown from September onwards which is apparently reflected in export data for September, said its director Mohiuddin Rubel.

"The global retail market is disrupted by many challenges starting from post covid container freight and supply chain crisis, raw materials price hike, and then anticipated recession in the global economy which is halting retail sales and demand for clothing. Buyers are following cautious steps to make their inventory and supply chain optimum, so some of them are even holding back production and orders". 

"Altogether it has been quite a fluid and vulnerable situation, where we have all the strengths and possibilities to grow given our sustainability and competitiveness strides, yet the global economic outlook makes it difficult to foresee something bright for the final quarter of the year 2022," he added.