Exports grow 15.7pc last fiscal
Tuesday, 31 July 2007
FE Report
The country's exports grew 15.7 per cent to a record US$12.18 billion in fiscal 2006-07, led by readymade garments, despite months of political turmoil and labour unrest.
In fiscal 2005-06, exports recorded at $10.5 billion registering about 22 per cent growth over that of the previous fiscal 2004-05.
The overall export of readymade garments soared by over 16 per cent to $9.21 billion in the fiscal.
"We are happy with the growth. We think it's impressive given the fact that our factories were closed for weeks because of the political turmoil and labour unrest," Fazlul Haque, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told the FE.
He further said: "We had a very good business in the first seven months as garment exports grew at a monthly rate of over 20 per cent. But the unrest in the later part of the year cost us several orders."
According to the Export Promotion Bureau (EPB), export of the country stood at $12,177.86 million in fiscal 2006-07 against export target of the period $12500.00 million.
The steady success came on the back of remarkable performances of woven garments, frozen foods, home textiles and leather products while handicrafts and ceramic products also performed well.
However, the knitwear exports that surged by 19.30 per cent to $4553.60 million, but the product missed its export target set for the fiscal by nearly 6.03 per cent.
Besides, earnings of the woven garment segment grew by 14.05 per cent to $4657.63 million in the past fiscal surpassing the target of $4650.00 million by 0.16 per cent.
The growth for home textiles was 55.50 per cent to $256.97 million in the period.
The EPB's report shows that earnings from frozen foods, the second largest export earner, grew by about 12.24 per cent to $515.32 million in 2006-07.
The country's footwear exports grew by 42.44 per cent to $135.94 million in the year, as exporters said Bangladeshi shoes were reaping benefits following imposition of antidumping duty on some categories of leather shoes from China and Vietnam by European Union (EU) few months back.
Finished leather earned $266.08 million during the last fiscal, which is up by 3.42 per cent over that of the previous fiscal.
However, vegetables export also marked a rise by 8.26 per cent to $35.64 million.
Besides, posting a negative growths compared to the last fiscal, Jute manufactures earned $320.78 million, raw jute $147.15 million, bicycles $54.05 million, textile fabrics $36.08 million, pharmaceuticals $28.15 million and tea only $6.94 million.
The country's exports grew 15.7 per cent to a record US$12.18 billion in fiscal 2006-07, led by readymade garments, despite months of political turmoil and labour unrest.
In fiscal 2005-06, exports recorded at $10.5 billion registering about 22 per cent growth over that of the previous fiscal 2004-05.
The overall export of readymade garments soared by over 16 per cent to $9.21 billion in the fiscal.
"We are happy with the growth. We think it's impressive given the fact that our factories were closed for weeks because of the political turmoil and labour unrest," Fazlul Haque, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told the FE.
He further said: "We had a very good business in the first seven months as garment exports grew at a monthly rate of over 20 per cent. But the unrest in the later part of the year cost us several orders."
According to the Export Promotion Bureau (EPB), export of the country stood at $12,177.86 million in fiscal 2006-07 against export target of the period $12500.00 million.
The steady success came on the back of remarkable performances of woven garments, frozen foods, home textiles and leather products while handicrafts and ceramic products also performed well.
However, the knitwear exports that surged by 19.30 per cent to $4553.60 million, but the product missed its export target set for the fiscal by nearly 6.03 per cent.
Besides, earnings of the woven garment segment grew by 14.05 per cent to $4657.63 million in the past fiscal surpassing the target of $4650.00 million by 0.16 per cent.
The growth for home textiles was 55.50 per cent to $256.97 million in the period.
The EPB's report shows that earnings from frozen foods, the second largest export earner, grew by about 12.24 per cent to $515.32 million in 2006-07.
The country's footwear exports grew by 42.44 per cent to $135.94 million in the year, as exporters said Bangladeshi shoes were reaping benefits following imposition of antidumping duty on some categories of leather shoes from China and Vietnam by European Union (EU) few months back.
Finished leather earned $266.08 million during the last fiscal, which is up by 3.42 per cent over that of the previous fiscal.
However, vegetables export also marked a rise by 8.26 per cent to $35.64 million.
Besides, posting a negative growths compared to the last fiscal, Jute manufactures earned $320.78 million, raw jute $147.15 million, bicycles $54.05 million, textile fabrics $36.08 million, pharmaceuticals $28.15 million and tea only $6.94 million.