Mashiur Rahaman

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Bangladeshi exporters earned more than US$14 billion in the first-eight months of the current fiscal year, fuelled by growing demand for competitively priced manufactured products in a post-recession global economy. With a net 40 per cent growth recorded at the end of July-February period against the corresponding period of the previous fiscal year, the country’s earnings from international trade is likely to exceed targets well before the year-end.
According to monthly export data released by the state-run Export Promotion Bureau (EPB), the country’s export earnings during the first eight months was 20 per cent higher than its target of $11.8 billion.
“It is just above $4 billion short of export targets of $18.5 billion,” EPB official said, before expressing confidence about reaching the target within the next two months.
The month of February alone recorded export earnings of $1.9 billion, a growth of 43 per cent against February 2010. The month’s export target was $1.5 billion, EPB data revealed.
Leading the country’s export, the knitwear garments export sector earned $5.8 billion during the period -- which was 44 per cent higher than the $4 billion earned during the corresponding period of the previous fiscal year.
Earnings from knitwear exports during this period was 28 per cent higher than the target of $4.5 billion.
Woven garment exports also enjoyed significant growth during the July-February period, reaching a 38 per cent increase with earnings of $5.1 billion.
Earnings from woven products was 22 per cent higher than the period’s target of $4.2 billion.
Jute and frozen food have also enjoyed impressive growth and are the nation’s third and fourth highest growing export items.
According to the latest EPB data, jute and jute goods earned $734 million from exports during July-February period.
The leading agro-product has become the country’s top-third export item, fuelled by surging demand of natural fibre across the world. Jute and jute goods at the end of first eight months of the fiscal year grew by 51 per cent from the corresponding period of FY 2009-10.
Harnessing benefit of restriction withdrawal in the European market, the country’s frozen food exporters recorded a rocking growth, earned $431 million during the period of current fiscal year. It was 59 per cent up than the corresponding period of FY 2009-10, according to EPB data.
Export of raw leather, which was on down trend in the recession-hit global market, also posted the growth of 34 per cent, and earned $176 million. EPB Vice Chairman Jalal Ahmed attributed the growth to the recovering global economy.

News: The Independent/ Bangladesh/ Mar-10-2011