Exports fall for first time in six months
Exports fell for the first time in six months, as political crisis cut orders, government data showed yesterday.
Overseas sales slipped 0.55 percent year-on-year to $2.4 billion in April, according to the Export Promotion Bureau.
Shahidullah Azim, vice-president of Bangladesh Garment Manufacturers and Exporters Association, blamed the fall in exports on political unrest in the first three months of the year and a drop in work orders after the Rana Plaza collapse.
After the Rana Plaza incident, international retailers have been placing fewer work orders, as they were observing the progress in issues related to compliance and workplace safety when the factory building inspections were going on, he added.
"Moreover, retailers were cautious in placing work orders with factories housed in shared buildings after the Rana Plaza incident."
Earnings in April are also 11.36 percent below the monthly target of $2.7 billion, data showed.
However, the periodic exports in the July-April period were $25.3 billion, registering 2.63 percent year-on-year growth.
Earnings from the apparel sector that accounts for 80 percent of exports rose 2.97 percent to $20.57 billion in July-April.