Export growth 10.14pc in 10 months - bdnews24.com
Export growth 10.14pc in 10 months
Chief Economic Correspondent, bdnews24.com
Published: 08 May 2013 10:49 AM GMT Updated: 08 May 2013 10:49 AM GMT
The country saw 10.14 percent growth in its export revenue in the first 10 months of the current fiscal in comparison to the same period last year.
During July-April in the current 2012-13 fiscal, the country in export revenue has earned $21.78 billion. In the first 10 months of the last fiscal, the amount was $19.77 billion.
But despite the growth, the current year revenue falls short of the targeted $22.53 billion by 3.31 percent.
Bangladesh’s Export Promotion Bureau (EPB) revealed these statistics on Tuesday.
Analysis shows, in April alone, $2.08 billion was earned in export revenues, which is 9.95 percent more than the last year April. However, this is still 11.19 percent less than the targeted goal.
Exporters Association of Bangladesh President Abdus Salam Murshedi told bdnews24.com that overall current global export scenario was positive. “Export will increase if the image of the country can be brightened abroad and the internal problems are resolved.”
From the knitwear section of ready-made garments, in April over $8.38 billion revenue was earned, which is 8.93 percent more in comparison to last year’s (April) $7.69 billion.
In the woven section, $8.92 billion was earned in April this year – 13.98 percent more compared to last year’s April and higher than the targeted goal set for the month.
But, one of the most prominent export sector – the frozen food sector – witnessed 14.38 percent drop. Frozen fish export revenues dropped by almost 50 percent, shrimp almost nine percent and raw jute by 11.35 percent.
Export of tea and tobacco dropped significantly by over $50 million – 16.67 percent lower compared to the April last year.
The government of Bangladesh had set $28 billion target for the current 2012-13 fiscal year.
Until now, export of vegetables, dried food, fruits, spices, petroleum by-product, pharmaceutical goods, cosmetics, PVC bags, leather and leather-based goods, wood, paper and paper goods, thread, jute and jute products, carpet, ceramics goods, copper wires, furniture and computer services has increased.
On the other hand, export decreased of cut flower, cement, chemical fertiliser, plastic goods, rubber, printed goods, wool and wool products, specialised textile, towel, home textile, cap, glass, ships and boats.
Investors had feared that the Tazreen fire, which killed at least 112 people, would affect exports. But, export revenues had risen.
Concerned individuals say that it was the political unrest that was affecting ready-made garment sector the most – not fire at Tazreen. Just recently, Rana Plaza at Savar collapsed killing over 700 people.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Vice President Mohammad Hatem said that Bangladesh would continue to dominate the sector. “China has moved away from this sector. No one else has the capacity to withstand China’s market.”
He said Tazreen or Rana Plaza did not influence business yet, but, failing to address international safety concern that have once again been raised in wake of these events, might be an affecting factor in future.
Export growth 10.14pc in 10 months
Chief Economic Correspondent, bdnews24.com
Published: 08 May 2013 10:49 AM GMT Updated: 08 May 2013 10:49 AM GMT
The country saw 10.14 percent growth in its export revenue in the first 10 months of the current fiscal in comparison to the same period last year.
During July-April in the current 2012-13 fiscal, the country in export revenue has earned $21.78 billion. In the first 10 months of the last fiscal, the amount was $19.77 billion.
But despite the growth, the current year revenue falls short of the targeted $22.53 billion by 3.31 percent.
Bangladesh’s Export Promotion Bureau (EPB) revealed these statistics on Tuesday.
Analysis shows, in April alone, $2.08 billion was earned in export revenues, which is 9.95 percent more than the last year April. However, this is still 11.19 percent less than the targeted goal.
Exporters Association of Bangladesh President Abdus Salam Murshedi told bdnews24.com that overall current global export scenario was positive. “Export will increase if the image of the country can be brightened abroad and the internal problems are resolved.”
From the knitwear section of ready-made garments, in April over $8.38 billion revenue was earned, which is 8.93 percent more in comparison to last year’s (April) $7.69 billion.
In the woven section, $8.92 billion was earned in April this year – 13.98 percent more compared to last year’s April and higher than the targeted goal set for the month.
But, one of the most prominent export sector – the frozen food sector – witnessed 14.38 percent drop. Frozen fish export revenues dropped by almost 50 percent, shrimp almost nine percent and raw jute by 11.35 percent.
Export of tea and tobacco dropped significantly by over $50 million – 16.67 percent lower compared to the April last year.
The government of Bangladesh had set $28 billion target for the current 2012-13 fiscal year.
Until now, export of vegetables, dried food, fruits, spices, petroleum by-product, pharmaceutical goods, cosmetics, PVC bags, leather and leather-based goods, wood, paper and paper goods, thread, jute and jute products, carpet, ceramics goods, copper wires, furniture and computer services has increased.
On the other hand, export decreased of cut flower, cement, chemical fertiliser, plastic goods, rubber, printed goods, wool and wool products, specialised textile, towel, home textile, cap, glass, ships and boats.
Investors had feared that the Tazreen fire, which killed at least 112 people, would affect exports. But, export revenues had risen.
Concerned individuals say that it was the political unrest that was affecting ready-made garment sector the most – not fire at Tazreen. Just recently, Rana Plaza at Savar collapsed killing over 700 people.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Vice President Mohammad Hatem said that Bangladesh would continue to dominate the sector. “China has moved away from this sector. No one else has the capacity to withstand China’s market.”
He said Tazreen or Rana Plaza did not influence business yet, but, failing to address international safety concern that have once again been raised in wake of these events, might be an affecting factor in future.
