This surpasses the previous record of $ 3.95 billion set in the same period in 2019. The all time high $ 4.23 billion was recorded in 2022.

However, April merchandise export earnings declined by 4.10% YoY to $ 814 million, also showing a 29% drop compared to March 2024. Despite this, total exports for April saw a marginal YoY increase of 1.25% to $ 1.14 billion given the strong performance in services export earnings.

In April 2024, the estimated value of services exports was $ 300.41 million, showing a significant increase of 19.28% compared to the same month in 2023.

The strong performance in services export earnings, during the first four months which rose by 6.47% YoY to $ 1.04 billion, contributed significantly to the total export value.