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9-month export earnings miss target by 17 pc

STAR BUSINESS REPORT
Belying hopes of improvement, the country's external sector continued with disappointing performance.
Export earnings trailed by around US$ 928.77 million or 17.27 per cent from the $5377.50 million target in the first nine months of the current financial year. The earnings are also $332.61 million less than that of last fiscal's same period, posting a 6.96 per cent negative growth.
The earnings were $1605.98 million in the first quarter (July-Sept), 1389.14 million in the second quarter (Oct-Dec) and $1453.86 million in the third quarter (Jan-Mar).
"Considering the performances during December and January, we thought that we would be doing better in the next months as export earnings were $535 million and $539 million for the two months respectively. But the performances in
February and March really frustrating and crisis still persists," said an official of Export Promotion Bureau (EPB).
The earnings were $496.80 million in February and $418.20 million in March while the average monthly target is $ 597.50 million, he mentioned.
Both export volume and price index went down by 5.27 per cent and 1.69 per cent during July-March period of FY02.
All major sectors including readymade garment, knitwear, frozen foods, leather, chemical products, raw jute, tea, petroleum byproducts, electronics, engineering products and handicrafts showed negative growth to as high as 69.66 per cent and trailed by as high as 89.20 per cent from the target during the period.
RMG exports fetched $2371.15 million, down by 14.55 per cent from
$2511.65 million target and also 5.60 per cent lower than that of last fiscal's same time.
Knitwear worth $1051.67 million was exported till March, falling 17.52 per cent short of this fiscal's goal, and 2.64 per cent less than that of last fiscal's same period.
In the first nine months of FY02, frozen foods worth $201.80 million were exported, missing $292.50 million target by 31 per cent and showing a massive 28.82 cent fall from that of last fiscal's corresponding period.
Leather export fetched $152.17 million, which is 29.55 per cent less than the current fiscal's $216 million target and posting a 13.52 per cent negative growth over the last fiscal's corresponding period.
Jute goods worth $180.25 million were exported against $206.25 million target. The earnings are 12.60 per cent less than the target
but increase of 7.79 per cent over the last fiscal's corresponding period.
Raw jute worth $46.81 million was exported against the target of $52.50 million, which is down by 10.84 per cent from the goal and shows a 6.14 per cent decline from the last fiscal's same time.
Tea export amounted to $15.86 million during July-March period of FY02 against the $22.50 million earnings target, showing a 29.51 per cent shortfall.
Handicrafts worth only $4.23 million were exported during the period against the $6 million target. This shows a 19.58 per cent decline over the last fiscal's earnings and 29.50 per cent short of the target.
During the July-March period, chemical products worth $42.61 million were exported against the $82.50 million target.