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Exports grow 14.66pc in 10 months

Star Business Report
The country fetched USS 11.37 billion from exports during the July-April period of the current fiscal year, registering a 14.66 percent growth over the corresponding period a year earlier.
According to the Export Promotion Bureau (EPB), $11.65 billion was the target of export earning in the first 10 months in FY 2007-08 against the overall target of $14.5 billion.
The earning in April stood at $1.21 billion against $875.04 million in the same month last year, sources in the state-run export promotional agency said, adding that during this period overall price index declined by 1.07 percent.
EPB data shows exports of knitwear, the prime forex earner, reached $479 million in April, while $4.39 billion was earned from exports of the item in the July-April period, which is 20 percent up on a year earlier.
On the other hand, in July-April period woven garment products worth $4.19 billion was exported against the target of $4.34 billion registering a 9.73 percent growth over the corresponding period of the last fiscal. Government set a target of woven export at $5.4 biflionforFY2007-08.
When asked, President of the Bangladesh Garment
Manufacturers and Exporters Association (BGMEA) Anwar-Ul-Alam Chowdhury Parvez said regaining in export is very simple as the buyers are coming back to Bangladesh to import low priced basic garment items.
Restoration of the political stability was a boon for Bangladesh as the foreign buyers regained confidence, he said.
“Another thing is that there was no lean period for sweater production last year. Generally December-March is a lean period of sweater manufacturing, but this year there was no such lean period due to the lengthy winter season in the West. This is also a reason behind the increased export of garment items,” Parvez said.
He said the country will maintain a 20 percent export growth of RMG products up to 2013 provided that no political unrest and smooth supply of gas and power in the industrial sector.
At the end of the fiscal the woven sector may hardly have a shortfall by 1.5 percent against the fixed target of exports, as the sector is regaining vibrantly.
During the July-April period, exports of vegetable, petroleum by-products, tea, cut flower/foliage and textile fabrics grew more than 60 percent.