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Export earnings register 13.39% growth during July-January

GarmentsCni News : The country’s export earnings maintained its positive trend with a healthy 13.39 percent growth during the first seven months (July-January) period of the current fiscal year (FY19) totaling $24,179.59 million.

The seven-month export figure is also 7.91 percent higher than the strategic target of $22,407 million.

During the July-January period of the last fiscal, the export earnings were $21,324.9 million, according to the latest data of the Export Promotion Bureau (EPB).

The EPB figures showed that the single-month export earnings notched a 7.95 percent growth in January this year totaling $3,679.72 million compared to $3,408.88 million fetched in January last year.

The single-month export earning is also 1.59 percent higher than the strategic target of $3,622 million.

The export target for the current fiscal (FY19) was earlier set at $39,000 million.

Talking to BSS, Bangladesh-German Chamber of Commerce and Industry (BGCCI) President Barrister Omar Sadat said, “Bangladesh’s export sector is mainly RMG-based and the contribution of the RMG sector is increasing day by day. Side by side the business environment including power and energy situation has improved for which the export earnings have witnessed continued growth,”

Former President of Dhaka Chamber of Commerce and Industry (DCCI) Abul Kashem Khan said that the RMG sector has bounced back tremendously due to the prevailing business-friendly environment in the country.

He also opined that the export earnings would increase in the future if necessary infrastructural development is ensured.

According to official data, knitwear continued to fetch the bulk of the earnings during the July-January period with $10,140.58 million, representing a good 13.86 percent growth over the same period (July-January) last year while woven garments earned $10,076.90 million, having a healthy growth of 15.18 percent.

Export of home textiles totaled $490.2 million with a fall of 0.79 percent while leather footwear exports earned $384.30 million, primary commodities $940.71 million including frozen and live fish $361.09 million, shrimps $257.41 million and agricultural products $579.61 million.

Leather and leather products fetched $626.42 million while cotton and cotton products together earned $86.42 million, plastic products $ 67.06 million and rubber exports $13.88 million.

Among the other exportable products, the export of cut flower and foliage notched a whopping 19,800 percent growth bagging $3.98 million followed by petroleum by-products with $177.28 million having a growth of 644.25 percent, ores, slag and ash with $4.73 million securing a growth of 217.45 percent and ceramic products bagging $54.2 million witnessing a growth of 140.78 percent.

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