Despite political unrest, country's export earnings increased by 2.43 per cent to US$ 20.31 billion in the first eight months of the current fiscal year (2014-15) from US$ 19.83 billion during the same period in the last fiscal year (2013-14).
Exporters and government officials termed the growth as satisfactory, considering the country's overall political situation and continuous depreciation of Euro, the official currency of euro zone - one of the major markets of Bangladesh merchandise.
Export earnings in February, 2015 grew by 5.15 per cent as comparing to the same period in 2014. The overall earnings, however, fell short of target set for the July-February period in the current fiscal year.
"We could maintain the growth trend because of our competitiveness and high demand for Bangladeshi merchandise abroad," said EPB vice chairman Subhasish Basu while talking to this correspondent.
Despite all odds, he said, the country saw around 5.0 per cent and 5.15 per cent growth in export earnings in the months of January and February respectively.
"In spite of supply disruption, we could send consignments to our destinations, may be sometimes by air shipment, but ultimately exports were made," said Mr Basu who is still hopeful of achieving the export target in the current fiscal year.
According to Export Promotion Bureau (EPB), the country fetched US$ 16.54 billion by exporting ready-made garments (RMG) during the July-February period as against $16.13 billion during the same period in the last fiscal, registering a growth of 2.55 per cent.
Of the total, knitwear industry fetched $ 8.13 billion, showing a 2.78 per cent growth during the July-February period of the current fiscal compared to the same period in the last fiscal while woven garments accounted for $ 8.41 billion, marking a healthy growth of 2.31 per cent.
BGMEA president Atiqul Islam attributed the rise in export earnings to significant improvements in the country's RMG sector as Accord and Alliance helped the industry turn into an international standard. Political stability could fuel the export growth, he added.
Even though the export is increasing, it would be difficult to sustain the growth if the political situation remains unstable, said apparel sector entrepreneurs who stressed the need for political stability to retain the growth.
According to industry sources, the ongoing blockade and shutdown are badly affecting the country's apparel sector as the whole supply chain including production, distribution and shipments are being hampered seriously.
As per EPB statistics, earnings from jute and jute goods during the first eight months stood at $ 569 million, registering a growth of 6.40 per cent as compared to the earnings during the same period in last fiscal year.
Leather and leather products also made a good stride and fetched US$ 323.49 million during the period, registering a growth of 22.16 per cent. Export earnings from bicycles and computers amounted to $ 84.66 million and $ 77.07 million respectively, marking 30.23 per cent and 20.74 per cent rise.
Exports from frozen foods, however, registered a negative growth during the period mainly due to sharp fall in Euro and the Rouble, the European and Russian currencies, against Dollar. Almost 70 per cent of the country's frozen food exports is targeted to EU, most of which are facing economic slowdown.
mzrbd@yahoo.com
