Export to US sees 5.0pc growth in July-Apr of FY \\\'14

Export earning from the USA, the largest export destination for Bangladesh goods, witnessed a 5.0 per cent growth during the first ten months (July-April) of the current fiscal year (FY), 2013-14, mostly due to good performance of the RMG (readymade garment) sector, reports UNB.
Bangladesh exports to USA totalled US$ 4,593.29 million in July-April of FY 2013-14 compared to $ 4,374.41 million during the corresponding period of the previous FY (2012-13). The amount represents 18.63 per cent of the country's total export earnings during the period.
According to the statistics compiled recently by the Export Promotion Bureau (EPB), RMG export, including knitwear, to the US amounted to $ 4,218.66 million during the July-April period of the current fiscal compared to $ 4015.31 million during the same period of the previous fiscal. The RMG items, including knitwear, witnessed a 5.06 per cent growth in the US market.
The major exports to the US market during the period were woven garment ($ 3,238.61 million), knitwear ($ 980.05 million), frozen shrimp ($ 46.38 million), home textiles ($ 116.27 million) and cap ($ 35.97 million).
During the period, around 31.86 per cent of the country's total woven garment exports entered the US market, followed by knitwear with 10 per cent and frozen shrimp 10.15 per cent.
Bangladesh's export earnings from the US in FY 2011-12 were impressive at $ 5,100.91 million, slightly down from $ 5,107.52 million in FY 2010-11. The export earnings in FY 2009-10, however, totalled $ 3,950.47 million, down from $ 4,052.00 million in FY 2008-09, mostly because of the global economic recession.
The FY 2009-10 marked the end of an ups-and-downs period for Bangladesh exports to the US. From the robust $ 2.5 billion during the FY 2000-01, exports had fallen below $ 2.0 billion by FY 2003-04.
Exports to the US rose steadily to cross the $ 3.0 billion mark in FY 2005-06, and peaked at nearly $ 3.6 billion during the FY 2007-08.