Exports ride out global recession in February
Monday, 19 April 2010
Monira Munni
The country's exports made a strong comeback in February -- the best showing in four months-- as apparel shipment halted slide with the easing of recessionary effects in major economies.
Figures released by the Export Promotion Bureau (EPB) showed that the shipment of goods such as ready-made garments, jute, bicycles fetched US$1.315 billion in February, up by 8.03 per cent than the same month last year.
February's strong showing took eight months' earnings since July last year to $10.020 billion - still a decline of 3.21 per cent than the same period the previous year, the EPB said.
"Exports have come back strongly in February," Shahab Ullah, vice chairman of EPB, told the FE. "The signs are there that we are finally reversing the effects of the global economic recession."
"If the trend continues, we can end the year on a positive note. I think we won't see anymore negative growth in the next four months as almost all our markets in the West have come out from recession," he said.
Exports were down by nearly seven per cent in the first five months to November as shipment orders plunged in the wake of the world's worst economic meltdown since the Second World War.
The country's exports made a strong comeback in February -- the best showing in four months-- as apparel shipment halted slide with the easing of recessionary effects in major economies.
Figures released by the Export Promotion Bureau (EPB) showed that the shipment of goods such as ready-made garments, jute, bicycles fetched US$1.315 billion in February, up by 8.03 per cent than the same month last year.
February's strong showing took eight months' earnings since July last year to $10.020 billion - still a decline of 3.21 per cent than the same period the previous year, the EPB said.
"Exports have come back strongly in February," Shahab Ullah, vice chairman of EPB, told the FE. "The signs are there that we are finally reversing the effects of the global economic recession."
"If the trend continues, we can end the year on a positive note. I think we won't see anymore negative growth in the next four months as almost all our markets in the West have come out from recession," he said.
Exports were down by nearly seven per cent in the first five months to November as shipment orders plunged in the wake of the world's worst economic meltdown since the Second World War.