Export earnings in Jul-Feb rise by 7.38pc

Staff Correspondent | Published: 21:18, Mar 08,2018

 
 

Country’s export earnings in the July-February period of the current financial year (2017-18) grew by 7.38 per cent to $24.39 billion from $22.71 billion in the same period of FY 2016-17.
Exporters termed the export earnings growth satisfactory and said that the earnings in the eight months of FY18 witnessed a moderate growth riding on the performance of readymade garment products.
The single-month earnings in February 2018 grew by 13.53 per cent to $3.07 billion from $2.70 billion in the same month of last year, according to the Export Promotion Bureau data released on Thursday.
Export earnings from RMG in the eight months of FY18 grew by 8.68 per cent to $20.25 billion from $18.63 billion in the same period of FY17.
The knitwear export in the July-February period of FY18 grew by 11.56 per cent to $10.12 billion from $9.07 billion in the same period of FY17.
Export earnings from the woven grew by 5.94 per cent to $10.13 billion from $9.56 billion.
In February, export earnings from RMG stood at $2.60 billion with a 16.46-per cent growth from $2.22 billion in the same month of last year, the data showed.
Export earnings from knitwear in February 2018 stood at $1.21 billion with a 20.01-per cent growth while earnings from woven products grew by 14.21 per cent to $1.38 billion in the month, the EPB data showed.
Considering a continued fall in the prices of apparel products and slow demand for them on the global market, country’s export earnings in the eight months achieved a satisfactory growth, Mahmud Hasan Khan, vice-president of the Bangladesh Garment Manufacturers and Exporters Association, told New Age.
He hoped that it would be possible for the country to achieve the export earnings target ($37.5 billion) set by the government for the FY 2017-18.
Babu said that that the export earnings growth in woven products was still below the expectation and it would not be possible for the sub-sector to achieve the desired growth without ensuring a strong backward linkage industry and efficient port management.
He said that global buyers were reducing volumes of orders for woven products due to failure of manufacturers in meeting lead time.
Export earnings from jute and jute goods in July-February of the current fiscal year increased by 14.61 per cent to $741.12 million from $646.62 million in the same period of FY17.
Earnings from agricultural products grew by 15.19 per cent to $406.20 million from $352.62 million.
Leather and leather product exports witnessed a negative growth of 5.15 per cent to $784.97 million compared with that of $827.62 million.
Leather footwear export, however, increased by 6.74 per cent to $393.94 million in the period.
Export value of frozen and live fish in the eight months of FY18 stood at $383.04 million with a 7.01-per cent growth from $357.95 million in the same period of FY17.
Export earnings from engineering products in July-February of FY18 fell by 30 per cent to $228.05 million from $330.02million in the same period of the FY17, the data showed.

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