Export earning maintains positive growth in May
Dhaka, July 5 (UNB) - Export maintained a positive growth, a comfortable 16.71 percent rise in May compared to the corresponding month of last year, that also showed a positive sign in overall export performance during the outgoing fiscal year.
Although the trend is positive but still remains far behind the target - US$ 17600 million for 2009-10. Eleven months export earnings totaled to US$ 14491.14 million.
M Fazlul Hoque, president of leading export earning Knitwear Manufacturers and Exporters Association (BKMEA), expressed satisfaction over turning around the negative growth, which he said quite encouraging.
“We are in way of turn around and hope that the negative sign has been eliminated by last month (June), he said.” The export figures for the last month of the outgoing year are yet to be tallied.
Asked about the challenges in the new fiscal, the BKMEA president said that implementation of the wage structure for workers would be a challenge for them apart from the energy and power crisis as well as adverse effects of recession.
He said that the apparel sector is recovering well although the sector suffered negative growth in the first six months of the outgoing fiscal.
The country’s export earnings for the 11 months of the outgoing fiscal (July-May) came well out of its negative trend at it showed a mere 2.48 percent increase compared to the corresponding period of the 2008-09.
According to the latest statistics provided by the Export Promotion Bureau (EPB), export income in May was US$ 1543.83 million as against the target of US$ 1619.20 million.
The July-May figures show jute goods, raw jute, electronics, petroleum byproducts and engineering products recorded a good export growth.
Jute goods and raw jute recorded an eye catching 79.85 percent and 36.42 percent growth respectively. Jute goods fetched US$ 441.41 million in 11 months while raw jute US$ 182.43 million.
Despite maintaining positive growth in May, the country’s major export-oriented sector, RMG or ready-made garments including knitwear, woven garments, home textiles and textiles fabrics, are yet to come out of the negative trend for the July-May period, along with some other sectors like frozen foods.
Knitwear exports for the period stood at US$ 5755.36 million - 0.93 percent less than the corresponding period of the 2008-09 fiscal, and some 12.07 percent lower than the target.
Export earnings from woven garments also displayed a declining trend, with US$ 5391.00 million. This represents a drop of 0.09 percent from the same period in 2008-09 fiscal.
Home textiles and textile fabrics hardly fared any better, with their exports totaling US$ 263.38 million and US$ 57.30 million respectively for the July-May of the outgoing fiscal, also down from 2008-09 fiscal.
Other industries to have experienced the negative trend include handicrafts, tea, ceramic products, vegetables and camera parts and chemical fertilizers.
Export of frozen foods meanwhile dipped to US$ 381.18 million, over 9 percent below their target for the period and a whopping 9.61 percent below the corresponding figure for the 2008/09 fiscal.
Export earnings from leather amounted to US$ 200.56 million, a healthy 22.66 percent growth over 2008-09 year, while exports of footwear earned US$ 180.83 million, 6.51 percent up from the corresponding figure of 2008-09 fiscal.
Some manufactured goods like melamine tableware, leather bags and purses, agro-processed foods and tobacco experienced export growth over 2008-09 performance, but yet to reach respective target.
Although the trend is positive but still remains far behind the target - US$ 17600 million for 2009-10. Eleven months export earnings totaled to US$ 14491.14 million.
M Fazlul Hoque, president of leading export earning Knitwear Manufacturers and Exporters Association (BKMEA), expressed satisfaction over turning around the negative growth, which he said quite encouraging.
“We are in way of turn around and hope that the negative sign has been eliminated by last month (June), he said.” The export figures for the last month of the outgoing year are yet to be tallied.
Asked about the challenges in the new fiscal, the BKMEA president said that implementation of the wage structure for workers would be a challenge for them apart from the energy and power crisis as well as adverse effects of recession.
He said that the apparel sector is recovering well although the sector suffered negative growth in the first six months of the outgoing fiscal.
The country’s export earnings for the 11 months of the outgoing fiscal (July-May) came well out of its negative trend at it showed a mere 2.48 percent increase compared to the corresponding period of the 2008-09.
According to the latest statistics provided by the Export Promotion Bureau (EPB), export income in May was US$ 1543.83 million as against the target of US$ 1619.20 million.
The July-May figures show jute goods, raw jute, electronics, petroleum byproducts and engineering products recorded a good export growth.
Jute goods and raw jute recorded an eye catching 79.85 percent and 36.42 percent growth respectively. Jute goods fetched US$ 441.41 million in 11 months while raw jute US$ 182.43 million.
Despite maintaining positive growth in May, the country’s major export-oriented sector, RMG or ready-made garments including knitwear, woven garments, home textiles and textiles fabrics, are yet to come out of the negative trend for the July-May period, along with some other sectors like frozen foods.
Knitwear exports for the period stood at US$ 5755.36 million - 0.93 percent less than the corresponding period of the 2008-09 fiscal, and some 12.07 percent lower than the target.
Export earnings from woven garments also displayed a declining trend, with US$ 5391.00 million. This represents a drop of 0.09 percent from the same period in 2008-09 fiscal.
Home textiles and textile fabrics hardly fared any better, with their exports totaling US$ 263.38 million and US$ 57.30 million respectively for the July-May of the outgoing fiscal, also down from 2008-09 fiscal.
Other industries to have experienced the negative trend include handicrafts, tea, ceramic products, vegetables and camera parts and chemical fertilizers.
Export of frozen foods meanwhile dipped to US$ 381.18 million, over 9 percent below their target for the period and a whopping 9.61 percent below the corresponding figure for the 2008/09 fiscal.
Export earnings from leather amounted to US$ 200.56 million, a healthy 22.66 percent growth over 2008-09 year, while exports of footwear earned US$ 180.83 million, 6.51 percent up from the corresponding figure of 2008-09 fiscal.
Some manufactured goods like melamine tableware, leather bags and purses, agro-processed foods and tobacco experienced export growth over 2008-09 performance, but yet to reach respective target.
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