Country's exports grow 42.85pc in two months
Wednesday, 5 November 2008
FE Report
The country's exports in the first two months of the current fiscal marked a hefty 42.85 per cent growth compared to the corresponding period of the previous fiscal despite the global financial tsunami that hit many developed economies.
According to officials of the Export Promotion Bureau (EPB), the country fetched over $2.903 billion from exports of primary and manufactured goods in July and August of the current (2008-09) fiscal year.
The first two months' earning was also 3.95 per cent more than the target set for the period, they said, adding that the export target for the first two months was $2.793 billion.
In the first month of the current fiscal, the country shipped goods worth around US$1.54 billion including garments belying the apprehension that financial market meltdown in the United States and the European Union, Bangladesh's major markets, would drag down exports.
The EPB officials said knitwear and woven garments grew more than 44.20 per cent to $2.243 billion, with knit items such as T-shirts growing 52.84 per cent and woven items such as jeans 35.55 per cent in July and August.
In the first two months, the country's earning from shipments of knitwear garments export stood at $1210.14 million while woven at $1033.20 million.
However, the export earning from frozen foods, marking 4.84 per cent growth, stood at $104.25 million in July-August of the current fiscal.
Vice Chairman of Export Promotion Bureau (EPB) Shahab Ullah had earlier told the FE that exports in the first quarter of the current fiscal would set a new record as all indicators showed signs of "impressive growth" of major export items, such as woven and knitwear garments, frozen food and footwear.
The EPB officials, however, expressed the fear whether the country's export could continue its growth in the next months as the global financial crisis had started taking its toll on many developed economies.
The country's exports fell by 5.37 per cent in the July-September quarter of last fiscal year as garment exports nose-dived due to protracted impact of the emergency and labour unrest on the garment industry.
But shipments staged a comeback in the last nine months as top global garment buyers increased their orders to Bangladeshi, finding its products cheapest in the world.
The country exported goods worth $14.11 billion against an ambitious target of $14.50 billion.
In the last fiscal, the EPB said, knitwear and woven garments grew more than 16 per cent to $10.7 billions, with knit items growing 21.50 per cent and woven items 11 per cent.
The country's exports in the first two months of the current fiscal marked a hefty 42.85 per cent growth compared to the corresponding period of the previous fiscal despite the global financial tsunami that hit many developed economies.
According to officials of the Export Promotion Bureau (EPB), the country fetched over $2.903 billion from exports of primary and manufactured goods in July and August of the current (2008-09) fiscal year.
The first two months' earning was also 3.95 per cent more than the target set for the period, they said, adding that the export target for the first two months was $2.793 billion.
In the first month of the current fiscal, the country shipped goods worth around US$1.54 billion including garments belying the apprehension that financial market meltdown in the United States and the European Union, Bangladesh's major markets, would drag down exports.
The EPB officials said knitwear and woven garments grew more than 44.20 per cent to $2.243 billion, with knit items such as T-shirts growing 52.84 per cent and woven items such as jeans 35.55 per cent in July and August.
In the first two months, the country's earning from shipments of knitwear garments export stood at $1210.14 million while woven at $1033.20 million.
However, the export earning from frozen foods, marking 4.84 per cent growth, stood at $104.25 million in July-August of the current fiscal.
Vice Chairman of Export Promotion Bureau (EPB) Shahab Ullah had earlier told the FE that exports in the first quarter of the current fiscal would set a new record as all indicators showed signs of "impressive growth" of major export items, such as woven and knitwear garments, frozen food and footwear.
The EPB officials, however, expressed the fear whether the country's export could continue its growth in the next months as the global financial crisis had started taking its toll on many developed economies.
The country's exports fell by 5.37 per cent in the July-September quarter of last fiscal year as garment exports nose-dived due to protracted impact of the emergency and labour unrest on the garment industry.
But shipments staged a comeback in the last nine months as top global garment buyers increased their orders to Bangladeshi, finding its products cheapest in the world.
The country exported goods worth $14.11 billion against an ambitious target of $14.50 billion.
In the last fiscal, the EPB said, knitwear and woven garments grew more than 16 per cent to $10.7 billions, with knit items growing 21.50 per cent and woven items 11 per cent.