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July-April exports see moderate growth

FE Report | May 11, 2018 00:00:00


The country's export earnings maintained a moderate growth of 6.41 per cent in the first ten months of the current fiscal year (FY).

The export earnings stood at US$ 30.40 billion during the July-April period of the FY 2017-18 which was $ 28.57 billion in the corresponding period of the FY 2016-17, according to official data released on Thursday.

The single-month earnings in April 2018 grew by 7.11 per cent to $ 2.95 billion which was $ 2.75 billion in April last calendar year.

Earnings from readymade garments (RMG) export during the period stood at $ 25.30 billion, marking a 9.37 per cent growth over the corresponding period of the FY 2016-17.

Export earnings from the woven grew by 7.42 per cent to $ 12.76 billion in the same period of the current fiscal.

The knitwear export stood at $ 12.54 billion during the period, marking an 11.43 per cent growth during the period of the FY18.

Both woven and knit items exports surpassed the target, set for the period, by 4.23 per cent and 2.12 per cent respectively, the data showed.

Terming the RMG export growth 'good', Mohammad Hatem, vice-president of Exporters Association of Bangladesh (EAB), said the export growth in terms of the volume is higher than the value.

"It means that though Bangladesh's garment exports have increased in quantity, the prices of apparel didn't go up in line with quantity," he claimed.

He held buyers responsible for their 'unethical practice' in offering prices, saying that they want full compliance but don't take investment into consideration and gradually decreasing their target price of apparel.

"Some entrepreneurs are also engaged in unhealthy competition to receive low-rated orders mainly because of their bank liabilities," he also added.

Export earnings from home textiles during the period grew by 13.07 per cent to $ 751.67 million during the July-April period of the FY 2017-18.

Export earnings from jute and jute goods increased by 7.66 per cent to $ 889.74 million in the first ten months of the current fiscal year from $ 826.46 million during the same period of last fiscal.

Agricultural products registered a 16.77 per cent growth with earnings of $ 543.18 million in the same period of the FY18.

Leather and leather product exports witnessed a negative growth of 10.02 per cent to $ 916.74 million compared to that of $ 1.01 billion during the same period of the FY17.

Leather footwear export, however, increased by 6.60 per cent to $ 460.14 million during the period.

Exports of frozen and live fish stood at $ 434.97 million, marking 2.32 per cent growth during the July-April period of the current fiscal year.

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