Export shows robust growth in first quarter
The country has achieved almost 30 percent growth in export in the first quarter of the fiscal 2011- 12 mainly due to buyers shifting of imports from China and South Korea to Bangladesh and improved compliance to the factories, reports BSS.
According to a primary estimate by the Export Promotion Bureau (EPB), the overall export earning in the first three months of the fiscal surpassed 6400 million US dollar against 5600 million US dollar of the previous year. This is 800 million US dollar higher during the first quarter of the previous year.
“We haven’t received the final data on the three months exports but we are estimating that growth for the three months period would cross over 30 percent”, Jalal Ahmed, EPB Vice Chairman told the news agency on Tuesday.
He said in the current fiscal the country is earning over 2.2 billion US dollar from exports in every month compared to 2 billion US dollar during the same period of the last year.
International buyers mainly from the USA and Europe have increased import of apparels from Bangladesh shifting from China and South Korea, he said.
Jalal said Bangladesh has been competing in both quality and price with other apparels exporters during the last couple of years.
He said the conducive business environment, created by the government in collaboration with the private sector, contributed to the export surge.
“I am not claiming that the country has been able to create cent percent working atmosphere but I can assure that the situation has improved significantly,” Ahmed added.
The EPB Vice-Chairman said though there is no study on productivity of Bangladeshi factories, the production in the factories has significantly improved during the last couple of years.
“If the productivity rate is officially measured it would be found how the Bangladeshi factories have improved production scenario in the context of both quality and price,” Ahmed claimed.
The government has set an export target of 26.5 billion US dollar in the current fiscal (2011-12) against the previous year’s export earning of 22.92 billion US dollar.
All the major Bangladeshi items, including woven, knitwear, textile, footwear and frozen foods, recorded over 30 percent growth during the period, according to the EPB primary data.