Exports grow 15.5pc year-on-year in May

Exports accelerated 22.11 percent to $2.53 billion in May from the previous month, helped by higher demand for garment items, jute and jute goods abroad.
Overseas sales grew 15.5 percent year-on-year in May, according to data from the Export Promotion Bureau. But exports in May were about 4 percent lower than the $2.63 billion target.
Shubhashish Bose, vice chairman of EPB, attributed the export growth to rising exports to new destinations, diversification of products and low-cost.
“The trend is still good despite some odds such as hartals and building collapse. I hope the exports will pick further up in June,” Bose said.
Between July and May, exports grew 10.67 percent to $24.32 billion from the same period last year, but were lower than the target for $25.16 billion, according to the data.
Bangladesh exported knitwear worth $9.40 billion and woven garments worth $9.92 billion in July-May, registering year-on-year growth of 9.56 percent and 14.10 percent respectively.
Jute and jute goods exports grew 6.57 percent to $947.91 million between July and May, from the same period a year ago.
All these data belong to the exports made nearly three months earlier, said Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association.
The effects of political violence and accidents in the garment sector will be felt on exports in three months from now, Islam said.
International buyers are now negotiating the prices for the next spring season. “We hope the environment will calm after the next general election.”