Exports exceed target

Exports soared 41.61 percent in the first 11 months of the current fiscal year, buoyed by apparel, compared to the same period a year earlier, according to Export Promotion Bureau.

In the July-May period, Bangladesh exported goods worth $20.54 billion, surpassing the period's $16.58 billion target, according to EPB data.

In May alone, the country exported goods worth $2.30 billion, a 47.69 percent rise from the same month a year earlier. In May, the exports exceeded the target by 34.26 percent, according to official data.

Of major export items, knitwear products were worth $8.44 billion and woven garments worth $7.51 billion, registering 46.76 percent and 39.44 percent growth during the period compared with the same period a year earlier.

The export of some products such as frozen foods, agricultural products, rubber, leather goods, fruits, specialised woven and knit fabrics, jute and jute goods, home textile, plastic waste, ships and boats and footwear also witnessed a significant export growth during the period.

As a new sector, exports of ships, boats and floating structures rose 337.66 percent to $40.44 million in the July-May period, from a year earlier.

Jalal Ahmed, vice-chairman of the EPB, said the trend shows that the growth will continue in the near future. "The symptoms are good. The export might not decline in the near future," he said.

“Statistically, exports were high this year because the exports were low last year, meaning the growth has been calculated on a low-base,” said Fahmida Khatun, research director of Centre for Policy Dialogue.

On a probable slowdown in orders, she said exporters are expressing their concern on the basis of orders from the international buyers. "But exports are growing all the same," she said.

The opportunity of exports, especially the apparel items, will increase further after the full economic recovery in Europe and Japan, Fahmida said. Japan has already turned into a good export destination for Bangladeshi apparel products, she said.

Shafiul Islam Mohiuddin, president of Bangladesh Garment Manufacturers and Exporters Association, said the country has performed well in exports this fiscal year, but in the coming year this trend might not continue.

The export of garment might see a slowdown in July-September period as the inflow of orders from the buyers is declining, he said. "Our export is depending on the financial recovery of the western economies," he said.


News Source: http://www.thedailystar.net/newDesign/news-details.php?nid=190269