Exports rise 15pc
Export earnings rose 15 percent to $9.62 billion during the July-October period of the current fiscal year compared to the same period last year due to increased shipment of garment products, an official of Export Promotion Bureau said yesterday.
Knitwear exports increased 18 percent, while woven garments 17 percent during the period despite some industrial disasters in recent times such as Tazreen Fashions fire and Rana Plaza building collapse, EPB Vice-chairman Shubhashish Bose said.
Garments contribute around 80 percent to the national exports. In July-September, earnings from knitwear exports were worth $3.16 billion and those from woven products $3.04 billion.
“Our garment products are still very competitive in terms of price and quality. The trend is also good as we are performing well in new export destinations,” Bose said.
Markets besides the US, the EU and Canada are considered new destinations.
Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association, said exports will rise further as the demand for the country's garment items is higher due to price competitiveness.
"Had we have had better infrastructures and adequate supply of gas and power, export earnings would have been more," Islam said.
The political crisis and frequent shutdowns are also hampering production in factories and transportation of goods, he said.
Exports are increasing, which is a very good sign. But, the risk is most exporters have to go for costly air shipment due to shutdown, he said.
Sometimes orders are being cancelled as exporters cannot maintain the lead-time set by international buyers, he said.
"Nevertheless the trend is still good."