Economic Reporter :
The export performance to target for July – December 2017 slashes by $63 million short than the target and 1.84 per cent less than the target, EPB data shows.
On the other hand, over all export grew by 8.42 per cent during last fiscal year 2016 to 2017, reveals Export Promotion Bureau (EPB) performance report.
Statistics shows that the strategic target of export for December 2017 was $3416 million. Export performance during the month was $3353.11 million. Export performance for December 2016 was $3092.60 million by the exporters of Bangladesh.
Besides, in six months (July to December) of current fiscal year 2107 to 2018, the overall export grew by 7.15 per cent. The total export was $17916.02 million from the country during the period. It was $ 16721.05 million during the same period of the fiscal year 2016 to 2017.
The major export sector of Bangladesh economy is Ready Made Garments (RMG) which had earned $14772.79 million in six months (July to December) of current fiscal year 2107 to 2018 and it had a strategic target of export $14376.27 million. Export Target of RMG during fiscal 2017-18 is $30160. RMG sector had 2.76 per cent more export than strategic target during six months (July to December) of current fiscal year 2107 to 2018. RMG sector had 7.75 per cent growth in export performance July-Dec 2017-18 over July-Dec. 2016-17. It was $13709.70 million RMG sector exported in six months (July to December) of current fiscal year 2106 to 2017. During the period Knitwear export grew by 11.5 per cent and Woven export grew by 4 per cent
Exporters have opined that the natural rate of RMG export is experiencing slower growth globally. Buyers are offering lower prices for RMG products which is affecting export performance of the country. BGMEA President Atiqur Rahman identified different incidents of accidents in RMG sector in the country, Low rate of Taka against USD, low confidence of buyers, increasing competition in the global market and lack of market competitiveness and low performance of port lowering buyers’ confidence and not attracting new buyers to the sector. According to him, economic recession in the Europe and the USA regions is also playing negative role over the growth of the sector. Still, the EPB is confident that during the second half of the fiscal year the export target will be fulfilled for the country.
According to the report export performance of July-Dec 2017-18 grew were Frozen Fish and Foods 7.15 per cent, Agricultural products 20 per cent, Chemical products 2.45 per cent, Rubber 11 per cent, Handicrafts 8 per cent, Paper and Paper products 40.53 per cent, Cotton and allied products 27 per cent, Sea bound Vessels 456 per cent, Building Materials 93.75 per cent, Home Textiles 16 per cent, Jute and Jute products 22 per cent than the same period of 2016-2017 fiscal year.
Besides, export performance of July-Dec 2017-18 reduced in the following sectors, Wood and Wood Products 17 per cent, Leather and Leather Goods 1 per cent, Plastic Products 28 per cent, Engineering Products 32.54 per cent, Petroleum products 80 per cent along with other sectors like Glass and Glass wares, Man Made Filaments & Staple Fibers experienced decline during the period.
The export performance to target for July – December 2017 slashes by $63 million short than the target and 1.84 per cent less than the target, EPB data shows.
On the other hand, over all export grew by 8.42 per cent during last fiscal year 2016 to 2017, reveals Export Promotion Bureau (EPB) performance report.
Statistics shows that the strategic target of export for December 2017 was $3416 million. Export performance during the month was $3353.11 million. Export performance for December 2016 was $3092.60 million by the exporters of Bangladesh.
Besides, in six months (July to December) of current fiscal year 2107 to 2018, the overall export grew by 7.15 per cent. The total export was $17916.02 million from the country during the period. It was $ 16721.05 million during the same period of the fiscal year 2016 to 2017.
The major export sector of Bangladesh economy is Ready Made Garments (RMG) which had earned $14772.79 million in six months (July to December) of current fiscal year 2107 to 2018 and it had a strategic target of export $14376.27 million. Export Target of RMG during fiscal 2017-18 is $30160. RMG sector had 2.76 per cent more export than strategic target during six months (July to December) of current fiscal year 2107 to 2018. RMG sector had 7.75 per cent growth in export performance July-Dec 2017-18 over July-Dec. 2016-17. It was $13709.70 million RMG sector exported in six months (July to December) of current fiscal year 2106 to 2017. During the period Knitwear export grew by 11.5 per cent and Woven export grew by 4 per cent
Exporters have opined that the natural rate of RMG export is experiencing slower growth globally. Buyers are offering lower prices for RMG products which is affecting export performance of the country. BGMEA President Atiqur Rahman identified different incidents of accidents in RMG sector in the country, Low rate of Taka against USD, low confidence of buyers, increasing competition in the global market and lack of market competitiveness and low performance of port lowering buyers’ confidence and not attracting new buyers to the sector. According to him, economic recession in the Europe and the USA regions is also playing negative role over the growth of the sector. Still, the EPB is confident that during the second half of the fiscal year the export target will be fulfilled for the country.
According to the report export performance of July-Dec 2017-18 grew were Frozen Fish and Foods 7.15 per cent, Agricultural products 20 per cent, Chemical products 2.45 per cent, Rubber 11 per cent, Handicrafts 8 per cent, Paper and Paper products 40.53 per cent, Cotton and allied products 27 per cent, Sea bound Vessels 456 per cent, Building Materials 93.75 per cent, Home Textiles 16 per cent, Jute and Jute products 22 per cent than the same period of 2016-2017 fiscal year.
Besides, export performance of July-Dec 2017-18 reduced in the following sectors, Wood and Wood Products 17 per cent, Leather and Leather Goods 1 per cent, Plastic Products 28 per cent, Engineering Products 32.54 per cent, Petroleum products 80 per cent along with other sectors like Glass and Glass wares, Man Made Filaments & Staple Fibers experienced decline during the period.
