• Saturday, September 20, 2014

Exports accelerate 7pc in May

Star Business Report

Exports rose 7.22 percent year-on-year to $2.72 billion in May, riding on higher clothing sales.
“Buyers are regaining confidence in Bangladesh as the garment entrepreneurs have undertaken many positive reforms in the sector after the Rana Plaza collapse last April,” said Abdus Salam Murshedy, former president of Bangladesh Garment Manufacturers and Exporters Association.
The three inspection agencies -- Bangladesh     University of Engineering and Technology, Accord and Alliance -- are working to improve workplace safety and compliance, which has helped in regaining buyers' confidence on Bangladeshi clothing items, he added.  
Garment exports between July and May stood at $22.18 billion, up 14.87 percent year-on-year, according to the Export Promotion Bureau.  

Total export earnings in the first 11 months of the fiscal year stood at $27.37 billion, an increase of 12.56 percent from a year ago.
Murshedy, also the president of the Exporters' Association of Bangladesh, said the overall export target of $30.50 billion set by the government for fiscal 2013-14 is likely to be achieved.
The export momentum though seems to have slowed somewhat last month: May's earnings of $2.72 billion missed the monthly target by 5.45 percent.

Published: 12:00 am Monday, June 16, 2014

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