Export earning maintains positive growth in May
Tuesday, 6 July 2010
Export maintained a positive growth, a comfortable 16.71 per cent rise in May compared to the corresponding month of last year, that also showed a positive sign in overall export performance during the outgoing fiscal year, reports UNB.
Although the trend is positive but still remains far behind the target - US$ 17600 million for 2009-10. Eleven months export earnings totaled to US$ 14491.14 million.
M Fazlul Hoque, president of leading export earning Knitwear Manufacturers and Exporters Association (BKMEA), expressed satisfaction over turning around the negative growth, which he said quite encouraging.
"We are in way of turn around and hope that the negative sign has been eliminated by last month (June), he said." The export figures for the last month of the outgoing year are yet to be tallied.
Asked about the challenges in the new fiscal, the BKMEA president said that implementation of the wage structure for workers would be a challenge for them apart from the energy and power crisis as well as adverse effects of recession.
He said that the apparel sector is recovering well although the sector suffered negative growth in the first six months of the outgoing fiscal.
The country's export earnings for the 11 months of the outgoing fiscal (July-May) came well out of its negative trend at it showed a mere 2.48 percent increase compared to the corresponding period of the 2008-09.
According to the latest statistics provided by the Export Promotion Bureau (EPB), export income in May was US$ 1543.83 million as against the target of US$ 1619.20 million.
Although the trend is positive but still remains far behind the target - US$ 17600 million for 2009-10. Eleven months export earnings totaled to US$ 14491.14 million.
M Fazlul Hoque, president of leading export earning Knitwear Manufacturers and Exporters Association (BKMEA), expressed satisfaction over turning around the negative growth, which he said quite encouraging.
"We are in way of turn around and hope that the negative sign has been eliminated by last month (June), he said." The export figures for the last month of the outgoing year are yet to be tallied.
Asked about the challenges in the new fiscal, the BKMEA president said that implementation of the wage structure for workers would be a challenge for them apart from the energy and power crisis as well as adverse effects of recession.
He said that the apparel sector is recovering well although the sector suffered negative growth in the first six months of the outgoing fiscal.
The country's export earnings for the 11 months of the outgoing fiscal (July-May) came well out of its negative trend at it showed a mere 2.48 percent increase compared to the corresponding period of the 2008-09.
According to the latest statistics provided by the Export Promotion Bureau (EPB), export income in May was US$ 1543.83 million as against the target of US$ 1619.20 million.