Special Correspondent :
Bangladesh’s merchandise export recorded a 12.98 per cent rise in the first eight months (July-February) of the current fiscal, on account of buoyant apparel shipments.
The sale of local goods abroad reached US$27.56 billion in the July-February period of the fiscal year 2018-19 compared with the sale of US$24.39 billion worth products during the same period of last fiscal, according to the data of Bangladesh Export Promotion Bureau (EPB) released on Thursday.
The performance was 7.81 per cent more than the strategic export target (US$25.56 billion) set by the government for the given period.
In February alone, Bangladesh export turnover stood at US$3.67 billion, up 10.12 percent in the same month of the last fiscal.
Trade officials and exporters hope that the growth will continue in the next four months of the current fiscal taking advantage of congenial business environment in the country and rising global demands.
“Bangladesh’s merchandise export continues to grow in the wake of rising global demands and favourable business climate at home. Export growth is expected to remain robust in the months to come helping the country to attain the yearly export target,” EPB Vice-Chairman Bijoy Bhattacharjee told The New Nation
Bangladesh fetched US$36.66 billion from merchandise export in the last fiscal (2017-18) and set an export target of US$39 billion for this fiscal.
“Export continues to maintain a double digit growth on the back of bright shipment performance from apparel sector,” President of the Exporters Association of Bangladesh (EAB) Abdus Salam Murshedy told The New Nation.
He said that exports of garment items bounced back due to strong global demands and trade tension between the USA and China.
Garments, which account for over 80 per cent of Bangladesh’s total export, earned US$23.12 billion between July and February of this fiscal year, showing 14.17 per cent year-on-year growth.
In the July-February period, export of woven garments advanced by 14.84 per cent to US$11.63 billion, while knitwear rose by 13.50 per cent to US$11.49 billion.
“We have to concentrate more on product and market diversification to sustain the export growth. Besides, the government should offer long-term policy support for the export-oriented industries to maintain competitiveness of local goods in the global market,” added Murshedy, who is also a ruling party lawmaker.
Apart from apparels, agricultural products export rose by 58.23 per cent to US$642.73 million, frozen and live fish by 2.28 per cent to US$394 million, chemical by-products by over 600 per cent to US$180.34 million, chemical products by 50 per cent to US$141 million, specialized textile by 42 per cent to US$98.21 million, plastic products by 18.32 per cent to US$76.8 million and ceramics products by 126 per cent to US$ 56.55 million.
Besides, jute and jute goods export declined by 24.36 per cent to US$560 million, leather and leather products by 11.5 per cent to US$694.72 million and home textile by 2.51 per cent to US$586.55 million.
Bangladesh’s merchandise export recorded a 12.98 per cent rise in the first eight months (July-February) of the current fiscal, on account of buoyant apparel shipments.
The sale of local goods abroad reached US$27.56 billion in the July-February period of the fiscal year 2018-19 compared with the sale of US$24.39 billion worth products during the same period of last fiscal, according to the data of Bangladesh Export Promotion Bureau (EPB) released on Thursday.
The performance was 7.81 per cent more than the strategic export target (US$25.56 billion) set by the government for the given period.
In February alone, Bangladesh export turnover stood at US$3.67 billion, up 10.12 percent in the same month of the last fiscal.
Trade officials and exporters hope that the growth will continue in the next four months of the current fiscal taking advantage of congenial business environment in the country and rising global demands.
“Bangladesh’s merchandise export continues to grow in the wake of rising global demands and favourable business climate at home. Export growth is expected to remain robust in the months to come helping the country to attain the yearly export target,” EPB Vice-Chairman Bijoy Bhattacharjee told The New Nation
Bangladesh fetched US$36.66 billion from merchandise export in the last fiscal (2017-18) and set an export target of US$39 billion for this fiscal.
“Export continues to maintain a double digit growth on the back of bright shipment performance from apparel sector,” President of the Exporters Association of Bangladesh (EAB) Abdus Salam Murshedy told The New Nation.
He said that exports of garment items bounced back due to strong global demands and trade tension between the USA and China.
Garments, which account for over 80 per cent of Bangladesh’s total export, earned US$23.12 billion between July and February of this fiscal year, showing 14.17 per cent year-on-year growth.
In the July-February period, export of woven garments advanced by 14.84 per cent to US$11.63 billion, while knitwear rose by 13.50 per cent to US$11.49 billion.
“We have to concentrate more on product and market diversification to sustain the export growth. Besides, the government should offer long-term policy support for the export-oriented industries to maintain competitiveness of local goods in the global market,” added Murshedy, who is also a ruling party lawmaker.
Apart from apparels, agricultural products export rose by 58.23 per cent to US$642.73 million, frozen and live fish by 2.28 per cent to US$394 million, chemical by-products by over 600 per cent to US$180.34 million, chemical products by 50 per cent to US$141 million, specialized textile by 42 per cent to US$98.21 million, plastic products by 18.32 per cent to US$76.8 million and ceramics products by 126 per cent to US$ 56.55 million.
Besides, jute and jute goods export declined by 24.36 per cent to US$560 million, leather and leather products by 11.5 per cent to US$694.72 million and home textile by 2.51 per cent to US$586.55 million.
