B'desh sees another fall in export earnings from USA
Tuesday, 12 October 2010
Export earnings from the US, the largest market for Bangladeshi goods, declined for the second consecutive fiscal during 2009-10, falling by about 8 per cent from its 2008-09 level, reports UNB.
The most noticeable cause for this is the declining trend for ready made garment (RMG) exports from Bangladesh to the US, badly affected by the global recession.
According to statistics released by the Export Promotion Bureau (EPB) this week, Bangladesh's export earnings from the US in the 2009-10 fiscal amounted to $3.14 billion, a 7.74 per cent reduction on the $3.4 billion registered during 2008-09.
Exports of RMG including knitwear witnessed a sharp fall of over 6 per cent in the last fiscal, fetching $2.9 billion, compared to $3.1 billion registered during 2008-09.
Illustrating the significance of the US market, nearly 46 per cent of all woven garment exports from Bangladesh entered the US market (earning the country $2.2 billion), alongside one-fifth of all shrimp exports (which earned $52.5 million).
Other noteworthy performers were knitwear, which earned the country nearly $686 million, caps totaling $24 million, and home textiles worth around $7 million.
The most noticeable cause for this is the declining trend for ready made garment (RMG) exports from Bangladesh to the US, badly affected by the global recession.
According to statistics released by the Export Promotion Bureau (EPB) this week, Bangladesh's export earnings from the US in the 2009-10 fiscal amounted to $3.14 billion, a 7.74 per cent reduction on the $3.4 billion registered during 2008-09.
Exports of RMG including knitwear witnessed a sharp fall of over 6 per cent in the last fiscal, fetching $2.9 billion, compared to $3.1 billion registered during 2008-09.
Illustrating the significance of the US market, nearly 46 per cent of all woven garment exports from Bangladesh entered the US market (earning the country $2.2 billion), alongside one-fifth of all shrimp exports (which earned $52.5 million).
Other noteworthy performers were knitwear, which earned the country nearly $686 million, caps totaling $24 million, and home textiles worth around $7 million.