Export of both manufactured goods, commodities exceeds targets in July-Feb of FY11

Buoyed by the robust RMG and jute sectors, export of manufactured goods maintained their edge over primary commodities in the first eight months (July-February) of the current fiscal, reports UNB. Overall export earning during the period reached $14 billion, a 40 per cent increase over the corresponding figure from the last fiscal, and comfortably exceeding its target of $11.7 billion. Of the overall export earnings, manufactured commodities fetched $13.4 billion, according to latest figures from the Export Promotion Bureau (EPB). However, export of primary commodities also rose to some $645 million, registering growth just under 40 per cent, and also exceeding its own target of $455 million. The export of primary commodities in the first eight months of the last fiscal (2009-10) amounted to around $462 million. Overall export earnings in the 2009-10 fiscal, at $16.2 billion, marked growth of aroundper cent from 2008-9, but fell 8 per cent short of the targeted $17.6billion. Primary commodities accounted for nearly $700 million, while manufactured commodities $15.5billion. During July-Feb of the current fiscal, export of manufactured goods surpassed the strategic target of $11.3billion. Jute and jute made goods, knitwear, woven garment, leather, other manufactured products, footwear, home textiles, specialized textiles, plastic products and cotton fabrics showed good performance. However, chemical products, petroleum by-products, engineering products and glassware showed negative export growth during the period compared to the corresponding period of the 2009-10 fiscal. Earnings from the major export-oriented knitwear sector totalled nearly $5.8billion, a 44 per cent growth over the corresponding period of the last fiscal, while woven garments fetched $5.1billion, growing by 38%. Export of jute and jute made goods in July-Feb topped $734 million, petroleum by-products fetched almost $165 million, leather $176 million, other manufactured products $44 million and engineering products earned nearly $192 million. During the period, export of home textiles totalled $456 million, plastic products nearly $43 million, ceramic products $24 million, footwear $197 million and cotton fabrics $83 million. Of the export of primary commodities in the July-February period, frozen shrimps, frozen fish, fruits, vegetables, tobacco, dry food, flowers and foliage, crabs, and betel nuts showed healthy performances, but tea, molasses, fruit juice, human hair and rice struggled. Frozen shrimp exports in the first eight months totalled $328 million, a 59 per cent rise above the corresponding figure from the last fiscal while frozen fish fetched $93 million. Vegetable exports for the July-February period totalled $35 million, fruits almost $26 million, tobacco above $57 million, flowers and foliage $27 million and dry food above $17 million. Tea exports were marked by a nearly 64 per cent decline in the July-February period, with earnings of just $1.8 million.