Global gloom keeps growth in exports to OIC countries low
Tuesday, 8 September 2009
Mashiur Rahaman
The global economic recession kept the growth in the country's export earnings from OIC countries within 17 per cent in the fiscal year ended on June 30 last.
The export growth in the previous fiscal year was recorded at 27 per cent, sources with the Export Promotion Bureau (EPB) said.
Export earnings from the countries in the Organisation of Islamic Conference (OIC) grouping were recorded at US$ 797.35 million by the end of last fiscal, up by only US$ 131.37 million from that of the previous fiscal, the EPB data revealed.
In the face of global economic recession experts termed the 17 per cent growth 'still satisfactory'.
The country's total exports to OIC countries accounted for 5.1 per cent of the total exports recorded in the last fiscal year. It was 4.70 per cent in 2007/08, the EPB data showed.
"The growth has slowed down, but we are well ahead of our competitors exporting to the OIC states,' a well-placed EPB officer told the FE.
He said this growth could be attributed to the rise in export of RMG, frozen foods and agro-based products like fresh vegetables and jute against their rising demands in those countries.
The global economic recession kept the growth in the country's export earnings from OIC countries within 17 per cent in the fiscal year ended on June 30 last.
The export growth in the previous fiscal year was recorded at 27 per cent, sources with the Export Promotion Bureau (EPB) said.
Export earnings from the countries in the Organisation of Islamic Conference (OIC) grouping were recorded at US$ 797.35 million by the end of last fiscal, up by only US$ 131.37 million from that of the previous fiscal, the EPB data revealed.
In the face of global economic recession experts termed the 17 per cent growth 'still satisfactory'.
The country's total exports to OIC countries accounted for 5.1 per cent of the total exports recorded in the last fiscal year. It was 4.70 per cent in 2007/08, the EPB data showed.
"The growth has slowed down, but we are well ahead of our competitors exporting to the OIC states,' a well-placed EPB officer told the FE.
He said this growth could be attributed to the rise in export of RMG, frozen foods and agro-based products like fresh vegetables and jute against their rising demands in those countries.