Exports rise 24pc in Nov

The rising export earnings in November suggest that one of the key economic indicators of Bangladesh is back on the right track, according to analysts and exporters. The country’s exports fetched about US $2.42 billion in Nov this year, registering a rise of 24 per cent over October and 9pc more than last November. According to the latest figures by the Export Promotion Bureau (EPB), exports amounted to $2.417b in November 2014. The figure of October stood at $1.957b. EPB statistics say, the 5 months from July to Nov of 2014-15 fiscal recorded export earnings of $12.07b. Of which, the apparel sector contributed 81pc. The July-Nov period of the previous fiscal saw earnings of $ 11.96b. Knitwear factory owners’ platform Bangladesh Knitwear Manufacturers and Exporters’ Association (BKMEA) President AKM Selim Osman said that factories were closed for quite a few days on October due to Eid-ul-Azha and Durga Puja leading to a fall in export earnings that month. ‘November’s export earnings made up for that. We expect exports to rise in the remaining months of the fiscal.’ Analysts see the drop in October as a regular phenomenon. Bangladesh Institute of Development Studies' (BIDS) Research Director Zaid Bakht said: ‘Exports show a slow trend every year during the Sept-Oct dull season, which happened this year as well.’ Export would rise during the rest of the fiscal if the country’s political situation remains ‘stable’, he said, according to bdnews24.com.