Exports from leading sectors expected to grow in Q2

FE Team | Published: November 14, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
Exporters have expressed the hope that exports from the country's leading export earning sectors will grow in the second quarter to December 2007, as they were receiving good orders from the importing countries.
They also said the pace of increased export orders would continue until the third quarter which is deemed the main period for exporting goods.
But they expressed their dismay over the move to help the local currency appreciate against the US dollar. The Bangladesh Bank released US$ 100 million (10 crore) over the past two weeks through banks aiming to make the greenback available in the local markets.
Bangladesh's earnings from merchandise export fell short of the target by 17.65 per cent during July-September, the first quarter of the ongoing fiscal year.
The country exported products worth US$ 3077.09 million during the quarter against the target of US$ 3736 million, according to the Export Promotion Bureau (EPB).
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Anowar-Ul-Alam Chowdhury Pervez said they have been receiving good orders since October last. They are hopeful about an increased volume of exports in the second quarter.
"Our exporters are getting good orders and we are expecting that the orders will pick up in the month of November," said the BGMEA chief at his office Tuesday.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Fazlul Hoque sounded upbeat that the knitwear exports were gaining momentum.
He also said the number of Utilisation Declarations (UDs) have been rising since August last.
According to the BKMEA, the UDs rose by 10 per cent in August, 40 per cent in September and 18 per cent in October compared to the corresponding months of the last year.
Bangladesh Frozen Food Exporters Association (BFFEA) President Belayet Hossain told the FE that they were expecting good export orders from early next year as they recorded poor orders over the last few months mainly due to the rise in fuel oil prices in the international markets.
"We are expecting a rise in orders from January and February next," said Belayet.