Export earning in first half may reach $7.0 billion
Wednesday, 2 January 2008
Naim-Ul-Karim
The country's export earning in the first half of the current fiscal might stand at nearly $7.0 billion recovering huge shortfall of the first quarter, provisional figures show.
"The export earning surged sharply after October last, driven by apparel exports," Shahab Ullah, vice chairman of the export Promotion Bureau (EPB), told the FE.
He said achieving export target will not at all be a difficult task if the current trend of export continues.
According to the provisional estimate of the EPB, woven and knitwear exports in the first half might stand at around $4.5 billion.
Echoing similar view, Bangladesh Garment Manufacturers and Exporters and Association (BGMEA), Anwar-Ul-Chowdhury Parvez, said export performance of the apparel units in the last two months of the second quarter helped much to recover the shortfall of the first quarter.
He ruled out the possibility of any effect on the country's apparel industry because of withdrawal of the European Union (EU) embargo on Chinese Textile export.
BGMEA president said the real competition will be tough if China gets into deal with the EU to export RMG to that part of the world.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) president Fazlul Haque said knitwear business in November-December period increased by about 15-20 per cent.
He said in the third quarter knitwear exporters also expect a surge in export.
Sources said though the apparel export surged in the last two months of the second quarter the export of frozen foods has declined substantially since hurricane Sidr hit the country on November 15.
They, however, said achievement of the current fiscal's export target is unlikely as a number of growth sectors including leather and leather goods, vegetables might show poor performance.
The EPB statistics reveal that the export receipts in the first quarter of the current fiscal were 5.37 per cent lower over that of the corresponding period of fiscal 2006-07.
The government set the country's export target for fiscal 2007-08 at $14.50 billion, 19.07 per cent up over the previous fiscal.
The country fetched $12.18 billion against the export target of $12.5 billion in fiscal 2006-07.
However, export target for the country's industrial sector has been set at $13.53 billion against $11.34 billion of the previous fiscal.
Of which, $5.4 billion was earmarked for woven garments, $5.46 billion for knitwear, $310 million for home textiles, $120 million for terry towel, $165 million for footwear, $285 million for light engineering, $350 million for jute goods, $295 million for leather, $235 million for chemical materials and $130 million for chemical fertiliser.
The country's export earning in the first half of the current fiscal might stand at nearly $7.0 billion recovering huge shortfall of the first quarter, provisional figures show.
"The export earning surged sharply after October last, driven by apparel exports," Shahab Ullah, vice chairman of the export Promotion Bureau (EPB), told the FE.
He said achieving export target will not at all be a difficult task if the current trend of export continues.
According to the provisional estimate of the EPB, woven and knitwear exports in the first half might stand at around $4.5 billion.
Echoing similar view, Bangladesh Garment Manufacturers and Exporters and Association (BGMEA), Anwar-Ul-Chowdhury Parvez, said export performance of the apparel units in the last two months of the second quarter helped much to recover the shortfall of the first quarter.
He ruled out the possibility of any effect on the country's apparel industry because of withdrawal of the European Union (EU) embargo on Chinese Textile export.
BGMEA president said the real competition will be tough if China gets into deal with the EU to export RMG to that part of the world.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) president Fazlul Haque said knitwear business in November-December period increased by about 15-20 per cent.
He said in the third quarter knitwear exporters also expect a surge in export.
Sources said though the apparel export surged in the last two months of the second quarter the export of frozen foods has declined substantially since hurricane Sidr hit the country on November 15.
They, however, said achievement of the current fiscal's export target is unlikely as a number of growth sectors including leather and leather goods, vegetables might show poor performance.
The EPB statistics reveal that the export receipts in the first quarter of the current fiscal were 5.37 per cent lower over that of the corresponding period of fiscal 2006-07.
The government set the country's export target for fiscal 2007-08 at $14.50 billion, 19.07 per cent up over the previous fiscal.
The country fetched $12.18 billion against the export target of $12.5 billion in fiscal 2006-07.
However, export target for the country's industrial sector has been set at $13.53 billion against $11.34 billion of the previous fiscal.
Of which, $5.4 billion was earmarked for woven garments, $5.46 billion for knitwear, $310 million for home textiles, $120 million for terry towel, $165 million for footwear, $285 million for light engineering, $350 million for jute goods, $295 million for leather, $235 million for chemical materials and $130 million for chemical fertiliser.