Export income gallops in July-Mar

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Mashiur Rahaman
Bangladesh grossed the highest ever monthly export income in March, thanks to the continued rise in jute goods export and partial recovery of the frozen foods market as well as that of readymade garments (RMG).
Earning a net US$ 1515.75 million, the month of March 2010 turned out to be the highest earning month from the country's overseas trade in its history, statistics by the state-owned Export Promotion Bureau (EPB) revealed.
It was 18.38 per cent growth against export earning recorded at US$ 1280.36 million in March 2009, EPB data revealed.
However, the statistics also disclosed that the third quarter earning (January-March) of current fiscal year has fallen from the corresponding period of fiscal year 2008-09. Exporters earned US$ 11541.23 million during January-March period of fiscal year 2009-10.
"It is a moment to cheer and we must applaud the continued export rise in Jute and jute goods," EPB official explained.
Earning a total US$ 320.34 million, the country's export of jute goods enjoyed a 60.81 per cent growth in July-March period of the current fiscal year. It has gained a net US$ 49.32 million within one month, a 16 per cent monthly gain.
Besides, export of raw jute also enjoyed 51.23 per cent growth during the July-March period in FY 2009-10 against the corresponding period of last fiscal, earning US$ 155.53 million. Export of raw jute jumped by 17 per cent adding US$ 28 million in one month.
Jointly, the jute and jute goods have outpaced frozen foods and have secured the position of the second largest export item from Bangladesh, experts in the export industry said.
"This year is the year of jute," said Sheikh Faruk Hossain, chairman of the Bangladesh Jute Association - a grouping of businessmen who export raw jute and jute goods abroad.
"Consumers - both individual and industrial - are ditching chemical fibres for natural ones such as jute for specific purposes. They are now more conscious about the harmful effects of chemical fibres, giving a boost to jute goods and raw jute export from Bangladesh," Hossain told the FE.
Nazmul Huq, whose Janata Jute Mills is at the forefront of the revival of the 'golden fibre', said timely product diversification has also played a big role in helping jute reclaim some of its lost honour.
The EPB official also attributed the sound monthly export performance to the largest exporting item-RMG. Though export in this sector in comparison to the previous fiscal remained in negative territory, it has narrowed the gap in March, he explained.
Export of knitwear witnessed a 3.64 per cent fall in July-March period of fiscal year 2009-10, earning US$ 4577.66 million. Similarly, export of woven garments earned US$ 4329.12 million in July-March period of current fiscal year, a 3.04 per cent fall from the previous fiscal.