Shipments contracted to $4.40 billion last month, clouding prospects for a recovery in FY26

Exports earnings fell to $3.76 billion in October, the lowest in 26 months, as shipment of apparel items became the last major victim to the falling global demand as consumers tighten belts amid higher inflation.

Export earnings dropped for the first time in five months in March because of a slowdown in the global economy following the severe impacts of the Russia-Ukraine war and Covid-19, official figures showed yesterday.