A closer look reveals that earnings from leather footwear dropped by 1.51 per cent to $128.78 million in July-August of financial year 2019.
"Eid holidays were the main reason for the negative export earnings growth in the month of August as the vacation halted RMG shipment for almost 10 days," Centre for Policy Dialogue distinguished fellow Mustafizur Rahman told local media. He also pointed out that despite the government's stated intention to improve Bangladesh's general business efficiency, more needs to be done.
"Bangladesh needs radical improvement in productivity, ease of doing business and maintaining lead time to remain competitive in the global market," Mustafizur said.
However, Faruque Hassan, senior vice president of the Bangladesh Garment Manufacturers and Exporters Association, says the blip was only temporary and that Bangladeshi producers would soon resume healthy volumes. "Our export growth will increase in September as some of the consignments meant for August shipment have been shipped in September due to Eid-ul-Azha holidays in August," he concluded.