Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 851 Mon. October 16, 2006  
   
Business


Exports post 31.28pc growth in Jul-Aug


Country fetched US$2.301billion from exports during the first two months--July and August-- this fiscal (2006-07), posting a 31.28 percent growth over the same period of the previous fiscal.

Significant rise in exports of knitwear, frozen foods, light engineering and home textile, contributed to 36.29 percent growth during the period in the current financial year over the same period of the previous fiscal, according to Export Promotion Bureau (EPB).

The knitwear and woven garments sector showed its outstanding performance in the months as usual. Knitwear export grew by 35.81 percent fetching $ 899.91million, which exceeded the target set for the two months. With 30.27 percent growth, woven products, one of the major export earners, continued to register a positive growth, fetching $ 913.86 million during the period.

The embargo on Chinese products to the US and EU markets, the exporters said, has contributed to this continued export growth.

The country also fetched 2.08 percent higher than the target of $2255million during the period.

Despite continuous unrest in the major exports sector, the performance is absolutely outstanding, observed Mir Shahabuddin Mohammad, the EPB vice chairman.

"Besides the market development programmes adopted by the exporters, US and EU embargos on Chinese products also have helped exceed the target set for the period," the chief of the state-run export promotional agency said.

Meanwhile, Fazlul Haq, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said, "Both the knitwear and woven sectors showed a good performance. But it could be better if the unrest in the apparel sector did not occur".

He suggested that the government should take immediate steps to avert any unrest in the apparel sector. "If all kinds of violence stops, exports from the apparel sector would be raised significantly," he said.

$397.13 million has been earned from frozen food, another major foreign exchange earner, registering a 13.62 percent growth during the period.

Exports of light engineering products, including motor parts, iron chain, fetched $39.83million showing a 88.32 percent growth over the target of $23.45 million in the July-August period.

Home textile worth $44.62 million was exported during the period, registering a 91.50 percent growth. Textile fabrics worth $ 9.88 million was exported during the period registering the highest 169.95 percent growth.

Jute goods, leather, raw jute, petroleum by-products saw positive growth during the period compared to the same period of the last fiscal, but all these products have failed to achieve the target set for the months of July and August in FY 2006-07.

Leather fetched $ 47.01million during the period showing a 24.56 percent growth. Raw jute and jute goods exports also rose by 24.56 and 1.87 percent respectively in the period.

Pharmaceuticals worth $5.59 million was exported registering 53.15 percent growth, but lesser than that in the last year. Chemical fertilizer and tea exports did not experience the expected growth during the period.

Agricultural products, including vegetables and tobacco, worth $ 21.93 million were exported during the period, but failed to achieve the target of $23.45 million.

Export volume rose 29.37 percent while price index also increased 1.91 percent in the period.