Exports rise 11pc in Nov
The country's export earnings increased by about 11 percent year-on-year to $1.76 billion in November, thanks to growth in readymade garment shipments.
â€œBangladesh's exports witnessed positive growth as it can offer products at competitive prices,â€ said Shubhashish Bose, vice-chairman of Export Promotion Bureau (EPB).
Bose also credited the new market explorations and product diversification -- thanks to participation in international fairs and opening new missions abroad -- for the positive turn of events for Bangladeshi exports.
â€œWe are happy over the positive growth as most countries' exports are in a negative trajectory due to the debt crisis in Europe.â€
The figure, however, fell short of November's target of $1.99 billion.
In November, overall garment exports stood at $1.36 billion, up 8.8 percent from the same month a year ago.
Knitwear raked in $653.96 million, while woven garments brought $710.04 million, according to EPB.
Although apparel exports registered decent figures, garment manufacturers are worried over growth prospects.
â€œWe are concerned about the future RMG export performance due to the recent fire at a garment factory and the ongoing political instability,â€ said Faruque Hassan, vice-president of the Bangladesh Garment Manufacturers and Exporters Association.
He said the country cannot achieve its export target for the fiscal year due to the global financial crisis and gas and power shortage in the country.
â€œWe registered more than 25 percent growth of RMG exports in the last three years. But it may come down to around 4 percent in the calendar year,â€ said Hassan, while calling for an end to precarious political scenario.