Bangladesh's Exports Increase in First 5 Months

Bangladesh's exports in the first five months of 2008-09 fiscal year (from July 2008 to June 2009) posted 26.80 percent growth over corresponding period of the previous fiscal, according to data of Export Promotion Bureau (EPB) released on Sunday.

Bangladesh in the first five months of the current fiscal year fetched over 6.551 billion U.S. dollars including 1.297 U.S. dollars in November last year, the EPB said.

EPB Vice Chairman Shahab Ullah told Xinhua the export earning showed a good come back in November after fall in October last year.

Export earning in October tumbled to 867.69 million U.S. dollars after booming growth in the first three months of the current fiscal year. The country shipped goods worth around 1.54 billion U.S. dollars in July, 1.358 billion U.S. dollars in August and around 1.450 billion U.S. dollars in September.

Export earning in October declined maybe due to the impact of financial tsunami in developed countries, he said, adding We export mostly low end products which are unlikely to come under much affect of global economic slowdown in future.

Ullah said the export volume of July-November in 2008 was also 2.81 percent higher than target which was set at 6.273 billion U.S. dollars.

Of total exports in the first five months of the current fiscal, the EPB data showed earning from woven and knitwear garments, which contributed nearly 75 percent to the Bangladesh's total exports in the last fiscal, stood at 2.305 billion U.S. dollars and 2.736 billion U.S. dollars respectively.

Bangladesh earned 14.11 billion U.S. dollars from exports in the last fiscal year (from July 2007 to June 2008).

Ullah said, we are hopeful to achieve export target by the end of this fiscal. Bangladesh set export target for the current fiscal year at 16.29 billion U.S. dollars.

Source: CRIEnglish