Top five missions fail to achieve export target in July-Oct
Tuesday, 12 January 2010
Mashiur Rahaman
The country's export earnings from the top five overseas missions displayed poor performance during the first four months of the current fiscal, hinting a gloomy export scenario at the year-end.
"Earnings from all the top five missions are below their targets in July-October 2009," a senior official of the Commerce Ministry told the FE. Most of the earnings are even less than their earnings of the pervious year, he said.
Data revealed by the state-run Export Promotion Bureau (EPB) show that export earning from the Washington mission, the largest and most important trade mission, was US$ 1201.50 million during the July-October period of 2009-10 fiscal.
The figure was 17.33 per cent less than its previous year's earning during the same period. It was also 22.45 per cent below the mission's export target set for the period in current fiscal.
The second largest trade mission of Bangladesh is Berlin. According to the EPB data, export earning from the mission was US$743 million, a significant decline during the period. It was 7.73 per cent less from the same period of the previous fiscal, and 11.16 per cent less than its target set for the period.
Similar negative performance was also experienced from the London mission, which earned US$ 539.84 million during July-October 2009. Its earning was 4.59 per cent less than the earning recorded during the same period of the last fiscal. It was also 5.56 per cent less than the mission's strategic target set for the period in FY 2009-10.
Despite earning 4.66 per cent more than that of the same period (July-October) of the previous fiscal, export earning in The Hague, the country's fourth largest trade mission, was 22.33 per cent less from its export target set this year. Export earning from the mission was US$ 307.57 million during the first four month of the current fiscal.
Similar to The Hague, the export earning of the trade mission in Paris was recorded at US$ 325.54 million, which was 1.29 per cent higher than that of the same period of the previous year, but 13.76 per cent less than its target.
"This is alarming. The present declining export trend of these missions indicates a poor performing year ahead for Bangladesh export sector," said the EPB official requesting anonymity.
According to Commerce Ministry, a total of 44 diplomatic missions and 16 commercial wings of Bangladesh are working abroad. Out of them, 18 missions achieved their export target and 26 failed during the July-October period of the 2009-10 fiscal.
Besides, eight commercial wings out of total 16 achieved their export target. Among these eights, earnings of only four were above their earnings during the same period of the previous fiscal.
The country's export earning for the July-October 2009 was US$ 4897.70 million, 12.57 per cent less from its target of US$ 5602.08 million. Comparing with that of the same period of the last fiscal, the earning was 6.67 per cent less, the EPB statistics revealed.
The country's export earnings from the top five overseas missions displayed poor performance during the first four months of the current fiscal, hinting a gloomy export scenario at the year-end.
"Earnings from all the top five missions are below their targets in July-October 2009," a senior official of the Commerce Ministry told the FE. Most of the earnings are even less than their earnings of the pervious year, he said.
Data revealed by the state-run Export Promotion Bureau (EPB) show that export earning from the Washington mission, the largest and most important trade mission, was US$ 1201.50 million during the July-October period of 2009-10 fiscal.
The figure was 17.33 per cent less than its previous year's earning during the same period. It was also 22.45 per cent below the mission's export target set for the period in current fiscal.
The second largest trade mission of Bangladesh is Berlin. According to the EPB data, export earning from the mission was US$743 million, a significant decline during the period. It was 7.73 per cent less from the same period of the previous fiscal, and 11.16 per cent less than its target set for the period.
Similar negative performance was also experienced from the London mission, which earned US$ 539.84 million during July-October 2009. Its earning was 4.59 per cent less than the earning recorded during the same period of the last fiscal. It was also 5.56 per cent less than the mission's strategic target set for the period in FY 2009-10.
Despite earning 4.66 per cent more than that of the same period (July-October) of the previous fiscal, export earning in The Hague, the country's fourth largest trade mission, was 22.33 per cent less from its export target set this year. Export earning from the mission was US$ 307.57 million during the first four month of the current fiscal.
Similar to The Hague, the export earning of the trade mission in Paris was recorded at US$ 325.54 million, which was 1.29 per cent higher than that of the same period of the previous year, but 13.76 per cent less than its target.
"This is alarming. The present declining export trend of these missions indicates a poor performing year ahead for Bangladesh export sector," said the EPB official requesting anonymity.
According to Commerce Ministry, a total of 44 diplomatic missions and 16 commercial wings of Bangladesh are working abroad. Out of them, 18 missions achieved their export target and 26 failed during the July-October period of the 2009-10 fiscal.
Besides, eight commercial wings out of total 16 achieved their export target. Among these eights, earnings of only four were above their earnings during the same period of the previous fiscal.
The country's export earning for the July-October 2009 was US$ 4897.70 million, 12.57 per cent less from its target of US$ 5602.08 million. Comparing with that of the same period of the last fiscal, the earning was 6.67 per cent less, the EPB statistics revealed.