Country\\\'s overall export earnings grow 0.88pc in three months
FE Report | Tuesday, 14 October 2014
The country's overall export earnings grew by 0.88 per cent during the first quarter of current fiscal year of 2014-15 compared to the same period of last fiscal.
The earnings stood at $7.69 billion during the July-September period which also fell short of target by 3.87 per cent set for the period, according to the official data released Monday.
Meantime, the single month earnings in September 2014 witnessed a negative growth of 1.44 per cent to $2.55 billion. But the receipts surpassed the target by 8.91 per cent set for the month, it revealed.
Earnings from the apparel products, knit and woven, grew by 0.47 per cent during July-September period. But in September apparel exports registered a fall by 2.06 per cent.
The merchandise shipment from knit products stood at US$ 3.27billion in July-September period showing a 3.49 per cent growth.
On the other hand, woven garments fetched $2.96 billion during the same period marking a 2.66 per cent negative growth.
Woven sector failed to achieve the target by 10.18 per cent while knit surpassed the target by 2.64 per cent during the period.
However, earnings from the knit and woven products witnessed a 2.06 per cent negative growth in September 2014 compared to September 2013.
It grew by 0.07 per cent in July, 4.23 per cent in August in 2014 compared to the corresponding months of 2013.
Apparel manufacturers attributed the ongoing compliance and workplace safety issues after the Rana Plaza building collapse and recent political turmoil to the decline in garment products export.
However, they expressed the hope that the trend would change in the coming months as they are getting good response from the foreign buyers in recent times.
"Buyers were in a wait and watch situation to see the result of the inspections carried out by the Accord and the Alliance," Md Shahidullah Azim, vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told the FE.
Now they are getting back their confidence and gradually increasing their work orders as the safety and compliance situation is now improving, he added.
He hoped that apparel exports will again increase in the coming months from February next.
Earnings from jute and jute goods stood at $197.42 million in July-September, showing a 3.94 per cent negative growth. The earnings also fell short of target by 1.98 per cent.
Frozen shrimp exports grew by 3.59 per cent and surpassed the target by 17.67 per cent. Leather and leather products fetched $308.83 million but fell short of target by 8.33 per cent.
Agricultural products and handicrafts exports witnessed 27.10 per cent and 16.32 per cent growth respectively in July-September period of the current fiscal.