Bangladesh exports albeit riding high but lower than strategic target set

Bangladesh’s export witnessed 2.07 percent growth riding on the moderate performance of the key knitwear, leather and leather products touching $ 5,142.24 million in the first two months (July-August) of the current fiscal (2014-15).

The figure is, however, 9.16 percent lower than the strategic target of $ 5,660.60 million, according to the latest figures released by the Export Promotion Bureau (EPB).

The single month export earnings in August totaled $ 2,159.50 million with a 7.25 percent growth but fell 17.46 percent short of the target.
The export target for the current fiscal (FY15) was set at $ 33,200 million. Total exports during the last fiscal (FY14) reached $ 30,186.62 million.

According to the EPB statistics, knitwear fetched the bulk of the earnings during the July-August period with $ 2206.34 million, representing a 4.97 percent growth over the same period (July-August) last year while woven garments earned $ 2025.42 million, a drop by 1.60 percent and export of home textiles totaled $ 115.99 million with a fall of 0.79 percent.

During the two-month period July-August, exports of jute and jute goods totaled $ 115.95 million, registering an 11.27 percent plunge. Raw jute exports fetched $ 12.44 million with 10.50 percent decline; jute yarn and twine $ 76.67 million; jute sacks and bags $ 16.82 million; and other items brought in some $ 10.02 million.

Export of man-made filaments and staple fibers totaled $ 13.72 million while other manufactured products earned $ 21.23 million.

Specialized textiles including terry towel, special woven fabric and knitted fabrics marked a negative growth of 28.74 percent earning $ 14.68 million in July-August. Export of handicrafts totaled $ 1.27 million;