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BD exports sector

performance poor

DHAKA: The export sector of Bangladesh continues to show a poor performance in July-November period as garment, the major export earner, miserably failed to reach the target, says a press release of Export Promotion Bureau (EPB).

Export in five months of 1990-2000 fiscal year showed a mere 7% rise compared to a double-digit growth in the previous year. EPB officials said that readymade garment and knitwear that altogether accounts for 75% of the country's export target for the year performed badly. Readymade garment was expected to fetch 1.29 billion US$ in July-November period.

But the actual turnover was 1.16 billion US$ which is 9.6% less than the target. Knitwear fetched 459 million US$, i.e. 8% less than the target.

Bangladesh Garment Manufacturers and Exporters' Association attributed the sluggish trade partly to the disruption caused by frequent hartal (general strike) in the peak season of export, mainly in December. They claimed in a recent statement that the sector faces Tk 200 crores loss for a day's hartal.

EPB officials opined any negative performance in garment export would casta shadow over the overall export trade. Tea, engineering goods, raw jute, jute goods and other primary products and industrial goods also failed to achieve export target. Frozen food, tannery and petroleum products are the only sectors where export earning exceeded the respective targets. But their share in overall export business is very small.

Export, however, increased to some extent in November compared to that of October, but still trailed average monthly target set at 470 million US$. EPB recorded 427.59 million US$ export earning in November, which was 360 million US$ in October.

Export earning in the first five months of the current fiscal year fell behind the target by 8.82%, but exceeded by 6.98% over the same period last year.

Country's export during the July-November period stood at 2.18 billion US$ against the target of 2.39 billion US$. Export target has been fixed for the current fiscal year at 5.73 billion US$.

EPB officials, however, expected a considerable growth in garment export in December, the last month of the quota year, which, they said, would have a significant impact over the country's export earning.ÑAPP