Export earnings rise in January
FE Report | Wednesday, 4 March 2009
The country's merchandise export earnings that witnessed a negative trend in December last turned positive in January despite the ongoing global economic recession.
The export earnings reached US$1.375 billion in January, registering a 11.65 per cent growth over the corresponding month of the previous year, according to the EPB preliminary statistics.
The export earnings dropped by over 10 per cent to $1.195 billion in December last over the same period of the previous year. The country fetched $1.324 billion as export earnings in December, 2007.
"Export earnings have increased as the global market situation improved," a senior official of the Export Promotion Bureau (EPB) told the FE Monday.
He also said the existing upward trend of export may continue in coming months that would help to achieve the overall export target by the end of this fiscal.
The export target for fiscal 2008-09 (FY09) was fixed at $16.298 billion as against $14.11 billion of the previous fiscal year.
"We are quite aware about the prevailing situation in the global market," the EPB official said, adding: "The government is now taking preparations to keep the country's export performance stable through providing appropriate policy support.
However, the overall export earnings grew by 18.14 per cent during the first seven months of the current fiscal over the same period of last fiscal, the EPB officials said.
Bangladesh fetched US$ 9.130 billion in exports during the July-January period of fiscal FY09, also down by $42.61 million from the target, or by 0.46 per cent, the EPB data showed.
"We are now finalising the export performance statement for the month of January on the basis of data provided by the authorities concerned," another EPB official said.
He also said the EPB may release the statement by the end of this week.
In fiscal 2007-08, the pattern of exports in terms of geographical location of markets thereof showed a continued heavy dependence on Europe and North America.
Nearly 50 per cent of exports went to the European Union (EU) countries while 28.6 per cent entered the North America Free Trade Agreement (NAFTA) bloc, according to the central bank statistics.
The export earnings reached US$1.375 billion in January, registering a 11.65 per cent growth over the corresponding month of the previous year, according to the EPB preliminary statistics.
The export earnings dropped by over 10 per cent to $1.195 billion in December last over the same period of the previous year. The country fetched $1.324 billion as export earnings in December, 2007.
"Export earnings have increased as the global market situation improved," a senior official of the Export Promotion Bureau (EPB) told the FE Monday.
He also said the existing upward trend of export may continue in coming months that would help to achieve the overall export target by the end of this fiscal.
The export target for fiscal 2008-09 (FY09) was fixed at $16.298 billion as against $14.11 billion of the previous fiscal year.
"We are quite aware about the prevailing situation in the global market," the EPB official said, adding: "The government is now taking preparations to keep the country's export performance stable through providing appropriate policy support.
However, the overall export earnings grew by 18.14 per cent during the first seven months of the current fiscal over the same period of last fiscal, the EPB officials said.
Bangladesh fetched US$ 9.130 billion in exports during the July-January period of fiscal FY09, also down by $42.61 million from the target, or by 0.46 per cent, the EPB data showed.
"We are now finalising the export performance statement for the month of January on the basis of data provided by the authorities concerned," another EPB official said.
He also said the EPB may release the statement by the end of this week.
In fiscal 2007-08, the pattern of exports in terms of geographical location of markets thereof showed a continued heavy dependence on Europe and North America.
Nearly 50 per cent of exports went to the European Union (EU) countries while 28.6 per cent entered the North America Free Trade Agreement (NAFTA) bloc, according to the central bank statistics.