Exports continue to be a beacon of hope for the economy, raking in $34.24 billion in fiscal 2015-16 -- the highest in the country's history.

The amount, which not only beat the government's target of $33.5 billion but was an increase of 9.72 percent over the previous year, down to the strong performance of the garment and leather and leather goods sectors.

The year also saw the highest ever monthly earning from exports, of $3.58 billion in June, according to data released by the Export Promotion Bureau yesterday.

Garment, which typically accounts for more than 80 percent of the country's annual exports, brought home $28.09 billion, up 10.42 percent year-on-year.

"We expect even higher exports in the current fiscal year as we are receiving work orders aplenty," said Siddiqur Rahman, president of Bangladesh Garment Manufacturers and Exporters Association.

One of the reasons for the ever-swelling export receipts from the garment sector is that it has now started manufacturing high-value items as well, he said.

The country is also receiving the work orders that are being shifted in bulk from China.

"China is no more a favourite destination for international garment retailers. They are shifting their work orders to other destinations and preferably to Bangladesh," Rahman added.

Apart from apparel items, exports of leather and leather goods increased 2.69 percent year-on-year to $1.16 billion last fiscal year, and in doing so, crossed the $1 billion-mark for the third year.

Earnings from footwear stood at $219.18 million, up 15.69 percent year-on-year.

Jute and jute good exports are seeing a revival on the back of new demand of natural fibres worldwide and for a return of business-friendly environment in some Middle Eastern countries, industry insiders said.

In 2015-16, jute and jute goods fetched $919.58 million, up 5.88 percent from a year ago.

Exports of terry towels increased 14.33 percent to $47.80 million, headgears or caps 130.69 percent to $148.70 million, engineering products 14.10 percent to $510.08 million, furniture 18.80 percent to $46.26 million and pharmaceuticals 13.04 percent to $82.11 million.

Exports of agricultural products like tea, vegetables, tobacco, cut flowers and foliage, fruits, spices and dry foods increased 1.71 percent to $596.06 million.

However, earnings from the exports of shrimps and crabs decreased 7.33 percent to $472.37 million, plastic goods such as PVC bags, plastic waste and others 11.50 percent to $89 million and bicycle 21.35 percent to $99.15 million, the EPB data showed.