Exports post robust growth

http://www.thedailystar.net/newDesign/news-details.php?nid=173305

Exports post robust growth
Star Business Report

Bangladesh registered almost 40 percent growth in exports in the first seven months of the current fiscal year, compared to the same period a year ago.

According to the Export Promotion Bureau (EPB), the country exported goods worth $12.18 billion during July-January of fiscal 2010-11, up from $8.7 billion during the same period of 2009-10, marking a 39.85 percent rise.

In January alone, exports grew 34.33 percent to $1.92 billion, compared to the same month of the previous year, according to government data.

The EPB report shows exports of major products — knitwear, woven, jute and jute goods, home textile, frozen foods, shrimp, leather goods — have grown significantly during July-January period.

In the first seven months of the current fiscal year, the knitwear sector earned $5.07 billion, which is a 43.22 percent rise from the same period a year ago. Woven garment exports grew 39.09 percent to $4.38 billion, compared to the same-year-ago-period.

The shipbuilding sector logged highest growth in percentage, rising at 1,386.78 percent.

At the same time, products such as tea, chemical, bicycle, furniture, engineering products, petroleum by-products and pharmaceuticals showed negative growth.

However, EPB set a target to earn $18.5 billion for the current fiscal year, which is 14.16 percent more than the actual earnings last year.

During 2009-10, the total export earnings were $16.2 billion against a target of $17.6 billion, which was 4.11 percent higher than the 2008-2009 earnings.

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