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Export earnings in Sep up 55pc

FE Report | October 09, 2018 00:00:00

The country's single-month earnings from merchandise goods hit a record 54.64 per cent growth to reach $3.14 billion in September 2018.

The earnings also surpassed the target set for the month by 14.74 per cent, according to official data, released by the Export Promotion Bureau (EPB) on Monday.

The country fetched $2.03 billion during the corresponding month of last year.

The overall earnings during first three months of current fiscal year of 2018-19 stood at $9.94 billion marking 14.75 per cent growth.

The export performance was 6.54 per cent higher than the target set for the period, data showed.

The earnings were $8.66 billion during July-September of last fiscal.

Experts and exporters attributed the robust growth to the surge in RMG productivity performance.

Earnings from export of RMG products during July-September of this fiscal grew by 14.66 per cent to $8.19 billion, which was $7.14 billion in the corresponding period of last fiscal, according to EPB data.

The earnings also surpassed the target by 4.75 per cent.

The country earned $4.20 billion from knitwear export during the period, which marked a growth of 12.27 per cent compared to that of $3.74 billion in the corresponding period.

The earning from woven garments in the first three months of FY'19 grew by 17.30 per cent to $3.98 billion, from $3.39 billion in the same month of FY 18.

The EPB data showed that earnings from home textile witnessed a growth of 4.80 per cent to $202.99 million from $193.69 million.

Earnings from home textile short fell of target by 9.73 per cent during July-September of FY'19.

Asked, Mahmudul Hasan Khan, vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said export growth was negative over 9.00 per cent in September 2017 which is the benchmark of comparison.

Last year growth was negative due to prolonged Eid vacation while there was no such holidays in September 2018, he explained.

Terming the overall RMG growth positive, Khondaker Golam Moazzem, additional research director at Centre for Policy Dialogue said positive growth in other non-traditional items are also good indication.

He, however, suggested scrutinizing whether the growth was led by market demands as the economic situation in the US is improving while the same is static in European Union.

His recommendation also included examining the effect of trade war between China and US.

Jute and jute goods earnings in July 2018 fell by 8.15 per cent to $216.87 million, from $236.12 million in the same period of last fiscal year.

The country fetched $267.94 million from leather and leather product exports in the first three months of FY 19, marking a 17.46 per cent negative growth during the period.

Earnings from leather footwear marked market 5.65 per cent growth with earnings of $175.52 million in July-September period.

Frozen and live fish exports in the first three months of current fiscal witnessed a negative growth of 18.17 per cent to $137.70 million during the same period of current fiscal, according to data.

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