Export earnings rise modestly by 6.55pc in 7 months

Staff Correspondent | Published: 00:05, Feb 07,2018 | Updated: 23:23, Feb 06,2018

 
 

The country’s export earnings in the first seven months of this financial year 2017-18 grew by 6.55 per cent to $21.32 billion from $20.01 billion in the same period of FY17.
Export earnings in the July-January period of the FY 18 fell 0.23 per cent short of the government set target of $21.37 billion, according to the Export Promotion Bureau data released on Tuesday.
The export earnings of January this year grew by 3.58 per cent to $3.40 billion from $3.29 billion in the same month of last year, the data show.
The earnings of January this year fell 2.55 per cent short of the government set target of $3.5 billion.
The EPB data show that earnings from readymade garment exports in July-January of FY18 grew by 7.57 per cent to $17.65 billion from $16.41 billion in the same period of FY17.
Exporters have termed the export earnings growth a positive trend and hope that the average export earnings growth will remain above 7 per cent in the current fiscal year.
Export earnings from woven garments in the first seven months of the current financial year grew by 4.74 per cent to $8.74 billion from $8.35 billion in the same period of FY17.
The knitwear export in the seven months of FY17 grew by 10.50 per cent to $8.90 billion from $806billion in the same period of FY17.
‘Under the present circumstances the export earnings growth in the first seven months is satisfactory as we have been facing continuous fall in prices of products in the global market,’ Abdus Salam Murshedy, president of Exporters Association of Bangladesh, told New Age on Tuesday.
He said that increasing price competitiveness was important for future growth and Bangladesh would have to adjust some of its policies to the international policy.
Mahmud Hasan Khan Babu, vice-president of Bangladesh Garment Manufacturers and Exporters Association, hoped that the export earnings growth of readymade garments would remain on an average 7-10 per cent over the current financial year.
He said that the RMG sector might face a blow in the next financial year due to national elections and consequences of the takeover of post factory remediation monitoring by a national body from the buyers platform, Accord and Alliance.
Babu said that slow growth in export earnings from woven subsector was continuing for lack of strong backward linkage industry.
According to the EPB data, exports of leather and leather products in July-January of FY18 fell by 4.61 per cent to $709.51 million compared with that of $743.77 million in the same period of FY17.
Export earnings from leather-footwear exports increased by 6.59 per cent to $357.98 million while leather products fetched $238.69 million with a 1.86 per cent negative growth in the July-January period.
Export earnings from jute and jute goods increased by 17.36 per cent in the seven months of FY18 to $661.86 million from $563.98 million in the same period of FY17.
Export of agricultural products grew by 16.81 per cent to $359.94 million from $308.14 million and earnings from home textile export grew by 16.66 per cent to $494.09 million from $427.21 million.
Export earnings from frozen and live fish in the July-January period of the FY 18 grew by 7.55 per cent to $353.99 million from $329.15 million in the same period of FY 17.
Earnings from plastic products export in the first seven months posted a negative growth by 25.67 per cent to $56.04 million from$ 75.39 million in the same period of FY 17, data show.
Pharmaceuticals export in the period grew by 14.44 per cent to $60.24 million from $52.64 million while earnings from engineering products fell by 30.95 per cent to $195.37 million from $282.92 million. 

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