Export earnings from US marks 8.42pc fall

Export earnings from the USA, the largest export destination for Bangladesh goods, witnessed a 8.42 per cent fall during the 1st quarter (July-Sept) of the current fiscal (2014-2015) mostly due to poor performance of major exportable items to the US market. Bangladesh exports to USA totalled $1,343.13 million in the 1st three months (July-Sept) of fiscal 2014-15 compared to $1,466.65m during the corresponding period of the previous fiscal (2013-14). The 3-month export figures for FY 15 represents 17.45pc of the country’s total export earnings. According to the statistics compiled by the Export Promotion Bureau (EPB), the major exports to US market during the 3-month period were woven garment ($911.22m), knitwear ($339.00m), frozen shrimp ($4.74m), home textiles (23.85m) and cap ($10.99m). During the period, around 30.76pc of the country’s total woven garment exports entered the US market, followed by knitwear 10.37pc. Bangladesh’s export earnings from the US in fiscal 2013-14 were impressive totalling $5,583.62m, up from $5,419.60m notched in fiscal 2012-13, according to UNB.