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Exports rebound, exceed target

December earnings rise 40pc to $2.47 billion

Refayet Ullah Mirdha
Exports made a dramatic rebound in December, rising by 40 percent to $2.47 billion, compared to the previous month, mainly due to product and market diversification. In November, shipment fell 15 percent, compared to the previous month.
The December earnings were 2.89 percent higher than the target at $2.40 billion set for the month, according to Export Promotion Bureau.
Exports grew by 7.01 percent to $12.60 billion during the first sixmonths (July- December) ofthe current fiscal year, compared to the same period last year.
“The export trend is positive now, and will remain so in the next few months,” EPB Vice-chairman Shubhashish Bose told The Daily Star by phone.
Exports are growing mainly due to diversified products and markets, Bose said.
Exports of products, other than garments, are also increasing gradually for the same reason, he added.
Bangladesh is performing well in some new markets — China, Russia, Japan, South Korea, Australia, Mexico, Brazil, Chile, Malaysia, South Africa, New Zealand, Turkey and India, he said.
With the rebound ofthe US economy, Bangladesh's garment exports to the country are also on the rise, exporters said.
In July-December, Bangladesh exported knitwear products worth $4.98 billion, with a 3.85 percent growth, compared to the same period ayear ago.
Earnings from woven garments were $4.98 billion during the period, an 11.53 percent rise.
Bangladesh Jute Mills Association Chairman Nazmul Huq said they receive a lot of inquiries about jute and jute goods. “I hope exports of jute and jute goods will rise in near future," he said.
Exports of jute and jute goods, leather and leather products, footwear and handicrafts also increased significantly during the period due to product diversification, according to EPB data.
However, Shafiul Islam Mohiuddin, president of Bangladesh Garment Manufacturers and Exporters Association, said though the volume is increasing, buyers are not offering higher prices for Bangladeshi garment products.
“I want to credit the human resources of our country for the higher export growth of the garment products,” he said.
The growth is amazing in the backdrop of inadequate gas and power, higher bank interest rate and weak infrastructure, he added.
Mohammad Hatem, president of Bangladesh Knitwear Manufacturers and Exporters Association, said the garment makers receive a lot of orders from buyers, who now drift away from China due to higher labour costs there.
reefat@thedailystar.net