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Dhaka Tribune

Export earnings rise by 3% in July-March period

Update : 06 Apr 2015, 06:32 PM

The country’s export earnings rose by nearly 3% riding on the RMG sector in the first nine months of the current fiscal year.

According to Export Promotion Bureau (EPB) provisional data, in July-March of FY 2014-15, Bangladesh earned $22.9bn by exporting goods which is 2.97% higher compared to the same period last year.

RMG sector, the highest export earner, contributes over 81% to the total export earnings, said an EPB official.

He also said the growth rate would be higher if there is no political unrest in the country.

Political unrest dented the production in the factory besides disrupting supply chain, he added.

As per the provisional data, woven sector earned $9.55bn, which was 3.6% higher compared to the same period last year, while Knitwear earned $9.05bn posting 2.7% growth.

In March, the export earning rose by over 7%, while in February the single month export growth was 5.15%.

“RMG export growth was expected to be 10%, which is necessary to reach the target set for the current fiscal year,” BGMEA Vice-President Shahidullah Azim told the Dhaka Tribune.

The slow growth will continue till political stability prevails in the country and if the current situation persists, Bangladesh will not be able to reach the export target of $27bn, said Azim.

But it is a good sign for garment sector that the work orders from the global buyers started to grow after a three-month lacklustre trend, he said.

Azim added that the impact of political unrest would be reflected in the upcoming month as it takes two to three months to execute an order.

He urged the opposition parties not to go for any kind of violent programmes, which would hamper production and supply chain. 

Bangladesh has set an export target of $33.2bn for the current fiscal year against the last year export earning of $30.18bn. 

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