Exports edge up 11.65pc, fetch $30.17b in FY 14

Exports in the just-concluded fiscal year (FY) of 2013-14 fetched $30.17 billion.

The amount reflected an 11.65 per cent growth over the previous fiscal due to increased shipments of apparel products despite having some odds like political turmoil and tragic factory incidents.

However, the overall export receipts fell short of target by 1.06 per cent set for the July-June period of FY 2013-14, according to official data released Thursday, reports the Financial Expres.

export-importThe single month earnings in June, 2014 reached $2.80 billion with a 3.50 per cent growth but missed the target by 8.65 per cent, the Export Promotion Bureau (EPB) figures showed.

Export receipts from apparel products including knit and woven items stood at $24.49 billion during the July-June period of last fiscal. It was $21.51 billion in the fiscal of 2012-13, according to the official data.

Knit products earnings fetched $12.04 billion showing 15.02 per cent growth that also surpassed the target by 4.09 per cent during July-June period.

Woven products receipts stood at $12.44 billion with a 12.70 per cent growth but failed to achieve the target by 1.03 per cent during the same period.

Home textiles fetched $792.53 million with a growth of 0.13 per cent compared to that of 2012-13 earnings while it failed to achieve the target set for the fiscal by 4.64 per cent.

“Export earnings from the apparel products are very good considering tragic incidents and political unrest,” Fazlul Haque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) told the FE.

It shows that buyers have confidence in Bangladesh and the country has immense potentially in the coming days, he said. He called for development of infrastructure and lowering of bank interest rate to grab the opportunity.

The FIFA World Cup-2014 also helped the sector earn more as it exported jerseys worth $1.0 billion, another manufacturer said.

The EBP data also showed that export of jute and jute goods witnessed negative growth of 20 per cent during the 2013-14 FY.

Earnings from leather, leather goods, frozen food and pharmaceuticals grew by over 26.47 per cent and 48.55 per cent, 17.35 per cent and 15.75 per cent respectively during the last fiscal.

Jute and jute products export fetched $842.49 million in 2013-14 fiscal against $1.03 billion earnings of 2012-13 fiscal. The earnings also fell short of target by 29.13 per cent, according to the data.

When asked, Bangladesh Jute Mills Association (BJMA) secretary Abdul Barik Khan said: “During the last fiscal, export of jute and jute products fell significantly due to various reasons including the Middle East crisis,”

Due to fund crisis, many local jute mills were closed down recently while others cannot use their full production capacity, he explained.

Moreover, appreciation of dollar against Indian currency and various tariff and non-tariff barriers for Bangladesh- made jute products are also responsible for the declining trend, he said. India is one of good markets for Bangladesh-made jute and jute products.

Export earnings from frozen fish stood at $ 638.19 million in the just concluded fiscal showing 17.35 per cent growth compared to that of 2012-13 fiscal. The earning also surpassed the target by 10.27 per cent.

“Demand for local frozen fish especially shrimp was high during the last fiscal year,” an exporter said. The price was also comparatively high as there was a shortage of small-sized and low-cost ‘vennamei’.