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Export earnings rise 6.55pc in July-Jan

FE Report | February 07, 2018 00:00:00

The country's export earnings maintained a moderate growth of 6.55 per cent during the first seven months of the current fiscal year (FY), 2017-18.

The export earnings stood at US$21.32 billion during the July-January period of FY 18, which was $20.01 billion in the corresponding period of last fiscal, 2016-17, according to official data.

The single month earnings in January 2018 grew by 3.54 per cent to $3.40 billion from $3.29 billion in the same month of 2017, showed Export Promotion Bureau (EPB) data released on Tuesday.

The single month earnings, however, failed to achieve the target set for the period by 2.55 per cent.

Earnings from readymade garment (RMG) export during the period stood at $17.65 billion, marking a 7.57 per cent growth over the corresponding period of FY 17.

Export earnings from the woven products grew by 4.74 per cent to $8.74 billion compared with that of $8.35 billion in the same period of last fiscal.

The knitwear items export stood at $8.90 billion during the period, marking a 10.50 per cent growth over the earnings of $8.06 billion in the same period of FY 17.

Woven and knitwear export earnings surpassed the target by 1.93 per cent and 3.49 per cent respectively.

Terming the growth 'satisfactory', considering the present apparel price and global demand, apparel sector leaders stressed enhancing price competitiveness and government policy support in line with that of the competitor countries.

Mahmud Hasan Khan, vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), hoped that the targeted growth will be possible to achieve in the current FY.

Terming the woven sub-sector's growth below expectation, he opined that local woven item makers have been struggling to cope with new challenge, as their buyers are reducing volume of orders following the failure of meeting lead time.

Without efficient port and strong backward linkage industry, especially for the woven sub-sector, it might not be possible for the sub-sector to bounce back.

Export earnings from jute and jute goods in the first seven months of the current fiscal increased by 17.36 per cent to $661.86 million from $563.98 million in the same period of last fiscal.

Agricultural products registered a 16.81 per cent growth with earnings of $359.94 million in the same period of FY 2017-18.

Export earnings from home textile during the period grew by 15.66 per cent to $494.09 million.

Exports of leather and leather products witnessed a negative growth of 4.61 per cent to $709.51 million compared with that of $743.77 million in the same period of FY 17.

Leather footwear export, however, increased by 6.59 per cent to $357.98 million during the period.

Exports of frozen food and live fish reached $353.99 million during the July-January period of current FY, marking a 7.55 per cent growth.

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