Negative export trend continues; economists forecast it may go in next 2-3 months
Dhaka, Mar 11 (UNB) - Country’s export earnings continued the downtrend with 4.69 percent negative growth in the first seven months of current fiscal (July-January) compared to the corresponding period of the previous fiscal (2008-09).
According to latest statistics provided by Export Promotion Bureau (EPB), the export earnings for the July-January period the current fiscal (2009-10) totaled US$ 8702.96 million, which is less than 12.03 percent of the targeted US$ 9892.96 million. Export earnings amounted to US$ 9131.05 million during the same period last fiscal (2008-09).
EPB statistics, however, showed that in January 2010, the export income was US$ 1426.21 million against the target of US$ 1393.92 million - a positive growth of 2.32 percent over target. The amount is also 3.49 percent higher than US$ 1378.05 million earned in January 2009.
Talking to UNB, Mustafa K Mujeri, director general of Bangladesh Institute of Development Studies (BIDS), said that the negative trend of export, which has been prevailing for the last few months, is going out but at a slow pace.
“I hope, this negative trend will go in the next 2-3 months and the export will return to the positive track.”
He observed that as the first seven months of the current fiscal experienced negative trend, the overall export performance of the country might be less at the end of the fiscal even with a positive trend in later stages.
During the July-January period of current fiscal, jute goods, raw jute, electronics, petroleum byproducts and engineering products recorded growth over last year’s performance and also over the target.
Export of jute goods and raw jute recorded 48.69 percent and 38.45 percent growth respectively during the period compared to the corresponding period of the previous fiscal (2008-09).
In the first seven months, export earning of jute goods totaled US$ 229.65 million while raw jute US$ 111.22 million, both well over the export target.
But, the country’s major export-oriented RMG sector including knitwear, woven garments, home textiles and textiles fabrics are yet to get on to the positive trend.
Knitwear export stood at US$ 3543.01 million - 6.85 percent less than the corresponding period of the previous fiscal, which was also 13.62 percent less over target.
Export of woven garments also showed a declining trend as the export figure was US$ 3152.92 million with a negative 6.99 percent growth compared to the corresponding period of the previous fiscal.
Home textiles and textile fabrics also maintained their negative trend as their exports totaled US$ 165.65 million and US$ 42.30 million respectively in July-January period of fiscal 2009-10.
Export of tea, ceramic products, frozen foods, leather and footwear also experienced the downtrend.
Export of frozen foods dipped to US$ 254.84 million with a shortfall of 3.16 percent over target and also a huge fall of 17.74 percent compared to the corresponding period of the previous fiscal.
Besides, export earnings of leather and footwear amounted to US$ 114.91 million and US$ 113.05 million respectively with negative growth of 0.90 percent and 2.40 percent compared to the corresponding period of the previous fiscal.
However, manufactured goods including melamine tableware, camera parts, leather bags and purse, agro processed foods, handicrafts and computer services showed export growth over last year’s performance but not over target.
According to latest statistics provided by Export Promotion Bureau (EPB), the export earnings for the July-January period the current fiscal (2009-10) totaled US$ 8702.96 million, which is less than 12.03 percent of the targeted US$ 9892.96 million. Export earnings amounted to US$ 9131.05 million during the same period last fiscal (2008-09).
EPB statistics, however, showed that in January 2010, the export income was US$ 1426.21 million against the target of US$ 1393.92 million - a positive growth of 2.32 percent over target. The amount is also 3.49 percent higher than US$ 1378.05 million earned in January 2009.
Talking to UNB, Mustafa K Mujeri, director general of Bangladesh Institute of Development Studies (BIDS), said that the negative trend of export, which has been prevailing for the last few months, is going out but at a slow pace.
“I hope, this negative trend will go in the next 2-3 months and the export will return to the positive track.”
He observed that as the first seven months of the current fiscal experienced negative trend, the overall export performance of the country might be less at the end of the fiscal even with a positive trend in later stages.
During the July-January period of current fiscal, jute goods, raw jute, electronics, petroleum byproducts and engineering products recorded growth over last year’s performance and also over the target.
Export of jute goods and raw jute recorded 48.69 percent and 38.45 percent growth respectively during the period compared to the corresponding period of the previous fiscal (2008-09).
In the first seven months, export earning of jute goods totaled US$ 229.65 million while raw jute US$ 111.22 million, both well over the export target.
But, the country’s major export-oriented RMG sector including knitwear, woven garments, home textiles and textiles fabrics are yet to get on to the positive trend.
Knitwear export stood at US$ 3543.01 million - 6.85 percent less than the corresponding period of the previous fiscal, which was also 13.62 percent less over target.
Export of woven garments also showed a declining trend as the export figure was US$ 3152.92 million with a negative 6.99 percent growth compared to the corresponding period of the previous fiscal.
Home textiles and textile fabrics also maintained their negative trend as their exports totaled US$ 165.65 million and US$ 42.30 million respectively in July-January period of fiscal 2009-10.
Export of tea, ceramic products, frozen foods, leather and footwear also experienced the downtrend.
Export of frozen foods dipped to US$ 254.84 million with a shortfall of 3.16 percent over target and also a huge fall of 17.74 percent compared to the corresponding period of the previous fiscal.
Besides, export earnings of leather and footwear amounted to US$ 114.91 million and US$ 113.05 million respectively with negative growth of 0.90 percent and 2.40 percent compared to the corresponding period of the previous fiscal.
However, manufactured goods including melamine tableware, camera parts, leather bags and purse, agro processed foods, handicrafts and computer services showed export growth over last year’s performance but not over target.
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