Kazi Zahidul Hasan :Bangladesh’s exports showed an unexpected contraction in the immediate past fiscal, indicating the slowest growth in four years.The growth rate of merchandise exports from the country fiscal 2014-15 came down to single-digit expanding only by 3.35 per cent from that of 12 per cent a year earlier, according to Export Promotion Bureau (EPB). Bangladesh fetched $31.02 billion from exports during the period and the amount also fell short the target of $33.2 billion. Earlier, the country recorded a single digit export growth (5.99 per cent) in fiscal 2011-12. While the sluggish export added to worries among the trade officials and exporters blaming the political turmoil in the first quarter of the current year coupled with the economic crisis in the Euro zone and limping recovery in America. The 28-nation European Union and the USA are two key export markets for Bangladeshi products especially ready-made garments (RMG). “Our export activities faced serious disruption during the first quarter of the current year resulting fall in export growth,” a senior EPB official told the New Nation on Tuesday preferring anonymity. He said: A relatively weak demand for key export commodities including apparels from the key export markets also contributed to shrink the country’s shipment growth. The trade official further said that the falling Euro and appreciation of local currency against US dollar affected the overall value of merchandise exports. “The country’s overall exports faced serious set back during the said period taking a hit from the months-long political turmoil,” said Salam Murshedy, President of Exporters Association of Bangladesh (EAB). He said, the normal economic activities suffered substantial disruptions from political unrest, including blockades and hartals, during January to March of the current year.”The violent politics tainted image of the country abroad forcing the buyers to shift orders and finally it left huge adverse impact on our exports,” he noted. The EAB leader mentioned that the apparel sector, the largest contributor of Bangladesh’s export business, did not perform as per the expectation resulting drop in export growth.”Political turmoil coupled with a higher production cost of local apparels is responsible for the lower export growth,” said Atiqul Islam, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). When asked, he said, apparel factories housed in shared buildings received fewer work orders from the buyers due to safety concern leading to a fall in garments export. Bangladesh earned $30.19 billion from commodity exports during the fiscal 2013-14
