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Exports to US soar by 18pc in July-Feb on US-China trade war

Staff Correspondent | Published: 00:00, Mar 11,2019 | Updated: 23:18, Mar 10,2019

 
 

The country’s export earnings from the United States in the July-February period of the current financial year (2018-2019) increased by 17.78 per cent to $4.59 billion from $3.90 billion in the same period of FY 2017-18 as buyers shifted orders for readymade garment products from China to Bangladesh due to the ongoing US-China trade war.
According to the Export Promotion Bureau data, among the traditional market (European Union, the US and Canada), Bangladesh’s export continued to achieve highest growth in the US in the current fiscal.
Export earnings from the US, the largest export destination for Bangladesh, in July-November of FY19 grew to $2.83 billion from $2.33 billion in the same period of FY18, according to the EPB data.
Export of RMG products to the US in July-February of FY19 grew by 17.69 per cent to $4.09 billion from $3.48 billion in the same period of FY18.
Export earnings from the United Kingdom, however, continued maintaining a meagre growth due to possible fallout of Brexit.
Export earnings from the UK in eight months of the current fiscal year grew by 4.31 per cent to $1.73 billion from $1.66 billion in the same period of FY18, the EPB data showed.
RMG exports to the UK in the eight months of FY19 increased by 2.88 per cent to $2.77 billion from $2.7 billion in the same period of FY18.
RMG exports to the UK, the third largest destination for Bangladeshi products, in July-February of FY19 increased by 1.39 per cent to $2.55 billion from $2.52 billion in the same period of FY18.
Export earnings from Germany, the second highest export destination for Bangladesh, in July-February of FY19 grew by 9.58 per cent to $4.3 billion from $3.92 billion in the same period of FY18.
RMG exports to the market in the period increased by 10.01 per cent to $4.06 billion.
Export earnings from India continued achieving a fantastic growth in the current financial year due mainly to the growing orders for readymade garment products.
Exporters said that global buyers and brands opened many retail shops in India and they were procuring products from Bangladesh for the stores.
Export earnings from Japan in July-February of FY19 grew by 29.43 per cent to $947.34 million from $731.93 million in the same period of FY18.
Country’s RMG export to Japan in the eight months grew by 41.39 per cent to $755.54 million from $534.36 million in the same period of FY18.
Export earnings from China in the eight months of FY19 grew by 29.84 per cent, taking the total figure to $596.12 million from $459.11 million in the same period of FY18.
RMG export to China in the period grew by 48.22 per cent to $353.07 million.
Export earnings from India in July-February of FY19 increased by 65.48 per cent to $880.31 million from $531.97 million in the same period of FY18.
RMG export to India in the eight month of FY19 grew by 108.04 per cent to $360.30 million from $173.18 million in the same period of FY18.

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