Export earnings fall by 1.37pc in July

The country's overall export earnings in July, the first month of the 2014-15 fiscal, declined by 1.37 per cent over the corresponding month of last fiscal, officials said.
Total earnings from shipments of merchandise products stood at $2.98 billion during the month of July, 2014 against $3.02 billion in the same month of 2013, according to official data, released Monday.
The earnings also fell short of target by 2.03 per cent, the Export Promotion Bureau (EPB) figures showed.
Export earnings registered a 23.99 per cent growth in July 2013, 4.26 per cent in July 2012, 28.70 per cent in July 2011, and 26.49 per cent in July 2010, data showed.
However, officials and exporters attributed the downward trend in export receipts in July to the recent slowdown in the shipments of apparel products to different markets especially the US markets following the ongoing safety compliance and other workplace safety issues in the country's apparel sector.
Knitwear items fetched $1.30 billion in July' 14, reflecting a 4.32 per cent growth over the corresponding month of 2013. Earnings from knit items surpassed target by 7.92 per cent.
On the other hand, exports earnings from woven garments stood at $1.21 billion, marking a negative growth of 4.14 per cent and also fell short of target by 3.55 per cent.
Md Atiqul Islam, president of the Bangladesh Garment Manufacturers and  Exporters Association (BGMEA) said that the big buyers are not increasing the products price while they are shifting to other competitive countries.
"They do not feel comfortable to place orders in Bangladesh and now in a wait and watch position due to various reasons including compliance and labour unrest issues," he told the FE Monday.
He apprehended that the export might fall further in the coming months.
However, another manufacturer explained that buyers are waiting for  December next when the garment factory assessment programmes are expected to be completed.
They are placing less orders and waiting for the completion of inspection as they favoured placing orders in compliant factories especially after the Tazreen and Rana Plaza disasters.
But he expressed the hope that the situation would improve after December as all are working to ensure a safe workplace in the country's garment industry.
Dr Khondaker Golam Moazzem, additional research director of Centre for Policy Dialogue (CPD) said that Bangladesh's apparel exports to the US markets witnessed a slowdown trend in recent months and it might have a negative impact on the woven products' export.
Both RMG and non-RMG products' export growth in July 2013 was high while a declining trend of growth was registered in July 2014.
"The government should observe the situation in coming months in this regard," he suggested.
Earnings from jute and jute goods stood at $60.98 million in July' 14, showing a 23.92 per cent negative growth. The earnings also fell short of target by over 20per cent.
Frozen food exports grew by 7.17 per cent but missed the target by 2.76 per cent. Leather and leather products fetched $109.14 million but fell short of target by 14.82 per cent.
Agricultural products, handicrafts and home textiles export witnessed 6.35 per cent, 14.71 per cent and 13.15 per cent negative growth respectively in July 2014