Bangladesh export to USA sees robust growth in July-Feb
Export earning from USA, the largest market for Bangladesh goods, registered a 35.53 percent growth in the first eight months (July-February) of the current fiscal, mostly due to buoyant performance of Readymade Garments (RMG) and frozen shrimp.
It totaled US$ 3284.51 million in 8 months compared to US$ 2423.46 million during the corresponding period of the previous year. The amount represents 23.34 percent of the country’s total export earning during the period.
According to recent statistics compiled by the Export Promotion Bureau (EPB), export of RMG to the US including knitwear amounted to US$ 2967.91 million in July-February compared to US$ 2249.62 million during the corresponding period of last fiscal. The RMG items including knitwear witnessed a 31.93 percent growth in the US market.
The major exports to the US market during the period were woven garment ($ 2223.58 million), knitwear ($ 744.33 million), frozen shrimp ($ 68.56 million), cap ($ 26.12 million) and home textiles ($ 113.21 million).
During the period, around 43.40 percent of the country’s total woven garment exports entered the US market, followed by knitwear 12.85 percent and frozen shrimp 20.89 percent.
Bangladesh’s export earnings from the US in the 2009-10 fiscal totaled US$ 3.14 billion, a 7.74 percent fall over US$ 3.4 billion in 2008-09, mostly because of the global economic recession.
Exports of RMG including knitwear witnessed a sharp fall of over 6 percent in the last fiscal, fetching US$ 2.9 billion as against US$ 3.1 billion in 2008-09.
The last fiscal (2009-10) marked the end of an up-and-down decade for Bangladesh exports to the US. From a high of US $2.5 billion during the 2000-01 fiscal, exports had fallen below US$ 2 billion by 2003-04.
Exports rose steadily to cross the US$ 3 billion mark in 2005-06, and peaked at nearly US$ 3.6 billion during the 2007-08 fiscal. —UNB