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For July-May, the first 11 months of the country's 2016-17 financial year, exports rose 3.7 percent to $31.79 billion from a year earlier, 4.7 percent below the target.
For the full year ending on June 30, the export target is $37 billion.
Shipments of readymade garments, comprising knitwear and woven items, totalled $25.62 billion in July-May, up 2.2 percent on year.
Exports in the financial year that ended in June 2016 were a record $34.24 billion, up 9.7 percent from the previous year, on the back of stronger garment sales.