2014 sees mixed trend in export earnings
30 December 2014, Nirapad News : Country’s overall export earnings in 2014 witnessed a mixed trend of both positive growth and fall, as some of the major exportable items found it hard to meet the export target throughout the year, especially in its later part.
According to the latest statistics provided by the Export Promotion Bureau (EPB), the country’s export earnings totalled US$ 12.07 billion during the July-November period of the current fiscal year with a mere 0.92 per cent growth compared to the same period of last fiscal. The figure is, however, 5.23 per cent short of the target of $12.74 billion for this five-month period. The single-month export earnings in November this year totalled $24.17 billion surpassing the strategic target for the month by 5.53 per cent.
During the export figures until November of this fiscal, eight items – woven garment, knitwear, home textiles, shrimp, agricultural products, jute and jute-made goods, leather and leather goods, footwear and engineering products, fetched the bulk of the earning with $11.54 billion or 95.61 per cent of the country’s overall export earnings.
Talking about the country’s overall export performance in 2014, Vice Chairman of the EPB Shubhashish Bose said the export earnings have come out of the negative trend in this November from October with an overall (July-November) 0.92 per cent growth and 5.23 per cent growth in its single month. He expressed the hope that the export growth would continue to rise further in this December and the following months in 2015. The EPB vice chairman said the foreign buyers are now coming up with much more work orders for which the export earnings are expected to see a rise in the coming months. He also hoped that the fiscal target of export earnings in fiscal Year (FY), 2014-15 would be fulfilled. The overall export earnings target in FY, 2014-15 is $33.20 billion. Mr Bose said steps are underway to boost the market and product diversification of the exportable items while trade missions are being sent abroad. Besides, Bangladeshi exporters are taking part in various international expositions. “All necessary steps like inclusion of the newer products in the export basket have been taken to boost the export earnings,” he added. Besides, he said, the government is planning to set up another five to six new commercial wings abroad at the existing foreign Bangladesh missions. These possible commercial wings include in Singapore, Kunming and Istanbul.
President of the Exporters’ Association of Bangladesh (EAB) Abdus Salam Murshedy told that it was unusual compared to the last few years that the export earnings in this year saw a negative growth in some months. “I think the country’s readymade garment (RMG) industry is passing through consolidation and there is nothing to be worried now about the export target or growth,” he added.