The country's export earnings from goods during the first three months of the current fiscal year (FY), 2019-20, fell by nearly 3.0 per cent to $9.64 billion, compared to the same period of last fiscal.
The figure for July-September of FY '19 was $9.94 billion.
Also, the overall earnings in the last three months fell short of target by 11.05 per cent, according to the Export Promotion Bureau (EPB) data released on Sunday.
The data also show that the export earnings in September 2019 alone declined 7.30 per cent to $2.91 billion from $3.14 billion in the same month a year ago.
The September earnings also fell short of the monthly target by 7.78 per cent.
Exporters and officials attributed the negative growth of overall exports to poor performance of major items, including readymade garment (RMG), leather and leather products, home textile, frozen and live fish and agricultural products, which accounted for about 92 per cent of the total earnings.
Earnings from the export of RMG products during the July-September period of FY '20 stood at $8.05billion, down 1.64 per cent from $8.19 billion in the corresponding period of last fiscal, according to EPB data.
The earnings also fell short of the target by 11.52 per cent.
The country earned $4.17 billion from knitwear export during the period, which marked a negative growth of 0.87 per cent, compared to $4.20 billion in the corresponding period of last fiscal.
The earnings from woven garments in the first three months of FY '20 fell by 2.45 per cent to $3.88 billion from $3.98 billion in the same month of FY '19.
The EPB data show that earnings from home textile stood at $170.30 million during the three-month period, down 11.67 per cent from $203 million.
The earnings from home textile also fell short of target by 15.59 per cent.
When asked about the poor performance, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Rubana Huq said the number of work orders had declined and that the trend might continue in the coming months.
The country is facing tough competition with Vietnam and that the sustained growth is not easy at this point, she said.
"Vietnam is getting a fair share of orders. Orders are also being diverted to Pakistan and India as well. All these countries are offering incentives and privileges," she noted.
"Perception about the local industry is that it is doing well and that the industry is growing. But if we consider the compound annual growth rate of last four years, the growth is dipping."
"In the absence of any other industry, we must make sure that RMG is sustained and nourished," she said, adding that many factories have faced closure after the recent hike of minimum wage.
So, it is time to rethink about how the industry would march forward, Ms Huq said, suggesting re-strategising and policy support from the government.
The country fetched $254.39 million from leather and leather product exports in the first three months of FY '20, marking a 5.06 per cent negative growth during the period, according to the EPB data.
Frozen and live fish exports fetched $125.20 million in the first three months of the current fiscal, registering a negative growth of 9.08 per cent, compared to the same period of current fiscal.
Earnings from jute and jute goods export, however, rose 1.84 per cent to $220.85 million in the first three months of the current fiscal from $216.87 million in the same period of last fiscal year.
