Export earnings from US, Germany continue to slide in 9 months

Staff Correspondent

Country’s export earnings from US and Germany continued to slide while the earnings from China, India and Japan witnessed a moderate growth in the first nine months of current financial year 2014-15.
Experts and exporters said that the negative export growth to the two major markets, the US and Germany, was part of a regular trend in last few months but the rate of sluggishness has decreased in the markets.
They hoped that the earnings would come to a positive track in the coming months.
The readymade garments export to the US market in July-March period of FY15 fell by 0.80 per cent to US$ 3.79 billion from US$ 3.42 billion during the same period of previous FY14 while the overall export earnings in the market stood at US$ 4.16 billion which is almost same compared with the previous year, according to the Export Promotion Bureau data released on Tuesday.
Export earnings from Germany, the second largest market of Bangladesh, fell by 0.14 per cent to US$ 3.53 billion in nine months of FY15.
Readymade garments export to Germany declined by 0.79 per cent to US$ 3.26 billion in the July-March period of FY15 from US$ 3.28 billion during the same period of FY14.
‘The percentage of negative export growth to the US and German markets is minimal and it is not concern for Bangladesh,’ Nazneen Ahmed, senior research fellow of Bangladesh Institute of Development Studies told New Age.
She said that in the coming summer season the export growth in the US and Germany will rebound as following the Christmas western consumers usually decrease their buying.
‘To retain the overall export growth now we will have to pay attention on the damage control and image building so that buyers do not shift export orders to other countries due to political instability in Bangladesh,’ Nazneen said.
This is the time to think whether the recent blockade and hartals would affect the overall export of the country, she said.
Sahidullah Azim, vice president of Bangladesh Garment Manufacturers and Exporters Association, said that the export earnings would come back in a positive track in the US market in coming months as many buyers who were shaky to place order after Rana Plaza building collapse are now coming back.
Export to the EU market has also increased but earnings witnessed insignificant growth due to depreciation of Euro against US dollar.
Export earnings from Japan increased by 6.30 per cent to US$ 702.10 million in the July-March period of FY15 from US$ 660.44 million during the same period of FY14.
Export earnings from India in the first nine months of FY15 increased by 39.34 per cent to US$ 396.43 million from US$ 284 million during the same period of FY14.
Earnings from China grew by 5.93 per cent to US$ 579.13 million in the July-March period of FY15 from US$ 546.69 million during the same period of FY14.

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