Al-zakir
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Q1 export earnings cross $4.0b
Naim-Ul-Karim
The country's exports boomed in September, an uninterrupted growth in third consecutive month of the current fiscal year, to power the first quarter's earning to exceed record $4.0 billion belying apprehensions of possible impact of the financial meltdown in developed economies, officials said Monday.
With addition of the September figures, they said, the country's export earning in the first quarter, spanning from July to September, stood at nearly $4353 million with an impressive 42 per cent growth over that in the corresponding period of the last fiscal year.
Officials and analysts said the country's export is still out of danger and unlikely to feel the extreme pinch of world financial tsunami which has already started taking its toll on the economies of many developed countries.
They said the country mostly exports low-end products to the global market, demand for which has already risen as recession-hit consumers are showing more interest in buying low-cost goods.
Export Promotion Bureau (EPB) Vice Chairman Shahab Ullah told the FE on the day "The meaning of recession is not that it will affect all the countries. Our exports in September performed very well."
When asked, he said: "I have earlier told you (this correspondent) that export would continue to grow in September and subsequent months like that in the first two months."
In July and August of the current (2008-09) fiscal year, the country fetched over $2.903 billion from exports of primary and manufactured goods.
The country shipped goods worth around US$1.54 billion in July, $1.358 billion in August and around $1.450 billion in September with garments belying apprehensions that financial meltdown in the United States and the European Union-- Bangladesh's major markets-- would drag down exports.
The EPB, which is yet to formally announce the export data for September, said the performance of the major export items including knitwear, woven garments, frozen foods and leather and leather goods was more than expectation in the final month of the first quarter.
Naim-Ul-Karim
The country's exports boomed in September, an uninterrupted growth in third consecutive month of the current fiscal year, to power the first quarter's earning to exceed record $4.0 billion belying apprehensions of possible impact of the financial meltdown in developed economies, officials said Monday.
With addition of the September figures, they said, the country's export earning in the first quarter, spanning from July to September, stood at nearly $4353 million with an impressive 42 per cent growth over that in the corresponding period of the last fiscal year.
Officials and analysts said the country's export is still out of danger and unlikely to feel the extreme pinch of world financial tsunami which has already started taking its toll on the economies of many developed countries.
They said the country mostly exports low-end products to the global market, demand for which has already risen as recession-hit consumers are showing more interest in buying low-cost goods.
Export Promotion Bureau (EPB) Vice Chairman Shahab Ullah told the FE on the day "The meaning of recession is not that it will affect all the countries. Our exports in September performed very well."
When asked, he said: "I have earlier told you (this correspondent) that export would continue to grow in September and subsequent months like that in the first two months."
In July and August of the current (2008-09) fiscal year, the country fetched over $2.903 billion from exports of primary and manufactured goods.
The country shipped goods worth around US$1.54 billion in July, $1.358 billion in August and around $1.450 billion in September with garments belying apprehensions that financial meltdown in the United States and the European Union-- Bangladesh's major markets-- would drag down exports.
The EPB, which is yet to formally announce the export data for September, said the performance of the major export items including knitwear, woven garments, frozen foods and leather and leather goods was more than expectation in the final month of the first quarter.