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Export earnings post 41.41pc growth
The countrys export earning had grown by a whopping 41.47 per cent to $22.92 billion in the just-concluded fiscal year, buoyed by outstanding performance of the readymade garment, jute, home textile, and frozen food sectors.
The $22,924.38 million export earning in FY2010-2011 exceeded the target of $18,500 million by 23.92 per cent, according to the data released by the Export Promotion Bureau on Monday.
EPB vice president Jalal Ahmed told New Age the countrys export growth had maintained its upward trend throughout the last fiscal year.
He said the export proceeds of knit and woven garments in the year were robust, proving the manufacturers apprehension about a dull year wrong.
The home textile also posted a mammoth export growth in the year.
He said the bureau would send a delegation to Russia and Brazil in September to assess the potential of marketing Bangladeshs knit and woven garments there.
Centre for Policy Dialogue senior research fellow Khondoker Golam Moazzem said the export registered a good growth in last fiscal year, coming out of the slow growth pace in the previous year caused by the global economic meltdown.
He said the growth in the export earning from readymade garments, the countrys top export item, would continue in the current fiscal year because of the relaxation of generalised system of preference by the European Union.
He, however, recommended that the government should lend a helping hand to the textile sector, which had been affected by the GSP relaxation of the EU that allowed the RMG sector to import a huge amount of fabrics.
The knitwear sector fetched $9,482.06 million in the year, posting a 46.25 per cent year-on-year growth, while woven garments earned $8,432.40 million, achieving a 40.23 per cent year-on-year rise.
The export proceeds of home textiles in FY2011 witnessed a whopping growth of 95.97 per cent year on year to $788.76 million, while footwear exports earned $297.80 million, primary commodities $958.98 million, frozen foods including frozen fish, shrimps, and others $625.04 million, and agricultural products $333.94 million.
Although the export proceeds of jute and jute goods registered a 41.49 per cent rise over the last fiscal year, amounting to $1,114.93 million, the amount fell short of the target for the year by 0.04 per cent. Of the amount, raw jute exports fetched $357.28 million, jute yarn and twine $500.66 million, jute sacks and bags $206.72 million, and other jute items brought in around $50.27 million.
Export of tea failed to recover from its poor performance in the just-concluded fiscal year, mostly because of increased domestic consumption, and fetched only $3.20 million, far short of the target of $6.00 million, adds the United News of Bangladesh.
Cotton and cotton products, leather and leather products, plastic products, and rubber maintained their upward export trend in 2010-2011.
Leather export proceeds in the year totalled $297.83 million, leather products $55.42 million, posting a healthy year-on-year growth of 90.71 per cent, cotton and cotton products together earned $135.01 million, plastic products fetched $68.76 million, and rubber export proceeds more than doubled to $20.66 million plus, registering an astounding year-on-year growth of 113.21 per cent.
The country also earned $37.58 million from ceramic exports, and clocks, watches, and their spare parts combined to earn more than $28.40 million in the year.
Engineering products including iron and steel, bicycle, and electronic products fetched almost $309.55 million in FY2011.
The export proceeds of man-made filaments and staple fibres totalled $95.75 million, caps $54.10 million, computer services $41.47 million [in July-May], while other manufactured products earned the country $69.42 million in the year.
Exports of ships, boats, and floating structures notched an eye-catching 332.98 per cent growth in the last fiscal year, fetching $40.44 million, compared to the target of $36 million.
Export proceeds of handicrafts totalled $4.47 million, paper and paper products $26.33 million, furniture $21.38 million, chemical products $104.76 million, and pharmaceutical products $44.27 million, while ores, slag, and ash bagged $29.18 million, posting a 154.40 per cent growth over the last fiscal year.
Specialised textiles including terry towel, special woven fabrics, and knitted fabrics notched a negative growth of 11.52 per cent over the year, earning $164.55 million, while export of petroleum by-products also fell into the negative trend as it accounted for just $260.68 million.
The export proceeds in June 2011 amounted to $2,386.04 million, showing a healthy rise of 40.25 per cent from that in the corresponding month of the previous year.
New Age | Newspaper
The countrys export earning had grown by a whopping 41.47 per cent to $22.92 billion in the just-concluded fiscal year, buoyed by outstanding performance of the readymade garment, jute, home textile, and frozen food sectors.
The $22,924.38 million export earning in FY2010-2011 exceeded the target of $18,500 million by 23.92 per cent, according to the data released by the Export Promotion Bureau on Monday.
EPB vice president Jalal Ahmed told New Age the countrys export growth had maintained its upward trend throughout the last fiscal year.
He said the export proceeds of knit and woven garments in the year were robust, proving the manufacturers apprehension about a dull year wrong.
The home textile also posted a mammoth export growth in the year.
He said the bureau would send a delegation to Russia and Brazil in September to assess the potential of marketing Bangladeshs knit and woven garments there.
Centre for Policy Dialogue senior research fellow Khondoker Golam Moazzem said the export registered a good growth in last fiscal year, coming out of the slow growth pace in the previous year caused by the global economic meltdown.
He said the growth in the export earning from readymade garments, the countrys top export item, would continue in the current fiscal year because of the relaxation of generalised system of preference by the European Union.
He, however, recommended that the government should lend a helping hand to the textile sector, which had been affected by the GSP relaxation of the EU that allowed the RMG sector to import a huge amount of fabrics.
The knitwear sector fetched $9,482.06 million in the year, posting a 46.25 per cent year-on-year growth, while woven garments earned $8,432.40 million, achieving a 40.23 per cent year-on-year rise.
The export proceeds of home textiles in FY2011 witnessed a whopping growth of 95.97 per cent year on year to $788.76 million, while footwear exports earned $297.80 million, primary commodities $958.98 million, frozen foods including frozen fish, shrimps, and others $625.04 million, and agricultural products $333.94 million.
Although the export proceeds of jute and jute goods registered a 41.49 per cent rise over the last fiscal year, amounting to $1,114.93 million, the amount fell short of the target for the year by 0.04 per cent. Of the amount, raw jute exports fetched $357.28 million, jute yarn and twine $500.66 million, jute sacks and bags $206.72 million, and other jute items brought in around $50.27 million.
Export of tea failed to recover from its poor performance in the just-concluded fiscal year, mostly because of increased domestic consumption, and fetched only $3.20 million, far short of the target of $6.00 million, adds the United News of Bangladesh.
Cotton and cotton products, leather and leather products, plastic products, and rubber maintained their upward export trend in 2010-2011.
Leather export proceeds in the year totalled $297.83 million, leather products $55.42 million, posting a healthy year-on-year growth of 90.71 per cent, cotton and cotton products together earned $135.01 million, plastic products fetched $68.76 million, and rubber export proceeds more than doubled to $20.66 million plus, registering an astounding year-on-year growth of 113.21 per cent.
The country also earned $37.58 million from ceramic exports, and clocks, watches, and their spare parts combined to earn more than $28.40 million in the year.
Engineering products including iron and steel, bicycle, and electronic products fetched almost $309.55 million in FY2011.
The export proceeds of man-made filaments and staple fibres totalled $95.75 million, caps $54.10 million, computer services $41.47 million [in July-May], while other manufactured products earned the country $69.42 million in the year.
Exports of ships, boats, and floating structures notched an eye-catching 332.98 per cent growth in the last fiscal year, fetching $40.44 million, compared to the target of $36 million.
Export proceeds of handicrafts totalled $4.47 million, paper and paper products $26.33 million, furniture $21.38 million, chemical products $104.76 million, and pharmaceutical products $44.27 million, while ores, slag, and ash bagged $29.18 million, posting a 154.40 per cent growth over the last fiscal year.
Specialised textiles including terry towel, special woven fabrics, and knitted fabrics notched a negative growth of 11.52 per cent over the year, earning $164.55 million, while export of petroleum by-products also fell into the negative trend as it accounted for just $260.68 million.
The export proceeds in June 2011 amounted to $2,386.04 million, showing a healthy rise of 40.25 per cent from that in the corresponding month of the previous year.
New Age | Newspaper
