Exports grow 21.13pc in eight months |
Star Business Report
The country's export earnings grew by 21.13 percent to $8023.87 million in the first eight months of the current fiscal year (2006-07) compared to $6624.21 million of the corresponding period of the last fiscal.
EPB officials said the considerable export growth was mainly due to the technical support provided for export diversification and cash incentives offered to the exporters. The EPB has fixed the total export target at $12,500 million for the current fiscal.
According to Export Promotion Bureau (EPB) figures released yesterday, exports fetched $8023.87million in the July-February period, registering a surplus of $53.87 million against the target of $7970 million fixed for the period.
Earning from woven garments was $3113.83 million during the period against $2615.48 million of the corresponding period of the last financial year, showing a 19.05 percent export growth. The earning was 5.03 percent up over the target.
However, knitwear sector fetched $2980.01 million against the target of $3089.81 million during the eight-month period, leaving a shortfall of 3.55 percent. Fazlul Haque, president of Bangladesh Knitwear Manufacturers and Exporters Association, attributed this shortfall to the labour unrest in garment factories in May last year.
Woven garments apart, earnings from frozen foods, home textiles, footwear, petroleum byproducts, ceramics, handicrafts, cut flowers, agro-processed goods and engineering products also registered significant rise, contributing to the overall export growth. All these products also exceeded the export target set for the period.
On the other hand, leather, tobacco and vegetables failed to achieve the export target during the period, but performed better compared to the corresponding period of the previous fiscal.
Earnings from jute goods, chemical fertiliser, textile fabric, bicycle, raw jute, tea and electronics saw a downtrend over the last fiscal's corresponding period, and also failed to meet the export target fixed for the eight-month period of this fiscal.