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BD Export Earnings Rise by 41 Percent

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Export earnings up by 41 percent | Bangladesh | bdnews24.com

Export earnings up by 41 percent
Wed, Jan 5th, 2011 9:07 pm

Dhaka, Jan 5 (bdnews24.com)—Export revenue has exceeded $10 billion in the first six months (July – Dec) of the current fiscal, according to the Export Promotion Bureau.

The revenue is 41 percent higher than that of the last year during the same period.

Export earnings stood at $7.27 billion in the first six months of the last year and it rose to $1.26 billion within the same timeframe of the current fiscal.

Export target for the first half of current fiscal was $8.76 billion, which exceeded by 17 percent.

Export revenue rose to 67.76 percent in December last year.

Commodities that saw an increase in export revenue were knitwear (43.39 percent), woven garment (40.79 percent), golden fiber and its products (58.33 percent), home textile (77.75 percent), frozen food (52.92 percent), leather (31.27 percent), leather goods (171.31 percent) and agro products (11.48 percent).

At the same time, there was an increase in tobacco (63.36 percent), plastic products (36.17 percent), handicrafts (22.83 percent), Caps (73.32 percent), watch and clock accessories (145.03 percent), shoes (49.29 percent), water transport (1924.72 percent), ceramics (6.61 percent) and electronics (106.92 percent).

But some other items saw a drop in earning – tea (68.41 percent), medicine (2 percent), cement, salt and stone (44 percent), chemicals (19.64 percent), wood and furniture ( 40.91 percent), bicycle (10.21 percent), pulp (100 percent) and press materials (12.24 percent)

Export target for the current fiscal has been set at $18.50 billion, which is 14.16 percent higher than last year's export revenue.

Export growth in 2009-10 fiscal was 4.11 percent.
 
Great .. hope in 5 years time we will beat import, the first in south asia.

oh for god sake you wanna convert this nice thread as indiavs bd or bd vs pakistan thread common man there is too many gouys here which like to troll.

anyway i look BD products alot here also congs:cool:
 
Export up 41pc in half-year to $10 billion plus
Thursday, 06 January 2011
Author / Source : Mashiur Rahaman

DHAKA, JAN 05: Bangladeshi exporters have earned US$10,263 million in the first-half of current fiscal year, thanks to growing international demand for manufactured products from the country in the post-recession global economy. According to export data released by the state-run Export Promotion Bureau (EPB), the month December 2010 alone recorded export earning of $1,988.35 million. It was the country’s highest monthly exports, a growth of 68 per cent against December 2009.

The Commerce Ministry data, released today, also showed the country's export earning during the first half (July-December) was 17 per cent ahead of the period’s target of $8769 million.

Leading the country’s export, the knitwear garments export sector earned $4311.92 million during the period which was 43 per cent higher than the first half’s earning of $3007.11 million in previous fiscal year. Earning of this period was 27.56 per cent higher than the target of $3380.39 million.

Following the growth trend, woven garments export also enjoyed a significant growth during the July-December period of the FY 2010-11, grew by 41 per cent at $3636.57 million. Earning in the first half was 15.98 per cent higher than the target of $3135.40 million.

Among number of products that have responded positively with impressive growth in this fiscal year, Jute and frozen food items are on the top, secured the top third and fourth place accordingly in export chart.

According to the latest EPB data, jute and jute goods exporters have earned $548.66 million from exports during July-December period of FY 2010-11.

The leading agro-product has become the country’s top-third export item, fuelled by surging demand of natural fibre across the world.
Jute and jute goods at the end of first half of the fiscal year grew by 58 per cent from the corresponding period of FY 2009-10.

Harnessing benefit of restriction withdrawal in the European market, the country’s frozen food exporters recorded a rocking growth, earned $331.25 million during the first half of current fiscal year. It was 52.92 per cent growth than the corresponding period of FY 2009-10, according to EPB data.

Export of leather products, which was on down trend in the recession-hit global market, posted the growth of 171.31 per cent, earning was only $25.34 million.

EPB Vice Chairman Jalal Ahmed attributed the recovering global economy in the post recession scenario. “This is a moment of cheer for the country’s exporters, showing positive sign across the board,” Mr Ahmed.

He said “as the global recession ends, major international buyers are turning their focus to Bangladesh for quality products at lower cost”.
He added, “We need to be ready to handle this inflow carefully to harness the best opportunity”.

He suggested manufacturers to focus on value addition in order to screen out the best offer. Senior Vice President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Faruque Hassan said producers were receiving more orders from overseas as Bangladesh products had earned a reputation for for high quality and maintaining product compliances.

“Representatives from well-known brands visited Bangladesh in the past few months and some of them opened their business branches in Dhaka for speeding up import,” he added explaining the market trend.

They all forecast a better time ahead but demanded consistent policy supports and availability of basic backbone infrastructure to sustain the growth.
 
New Age | Newspaper
$2b export proceeds in Dec set all-time record
Exports fetch $10.3b in first half of FY10
Kazi Azizul Islam

Export earnings in December amounted to $1.99 billion, the highest ever in the country’s foreign trade history, thanks mainly to a robust rise in readymade garment shipments.

With that the country’s export proceeds in the first half of the current fiscal year posted a 41 per cent year-on-year rise to $10.3 billion.
The export earning growth in FY2009-10 plunged to minus 6.2 per cent due to a drastic fall in RMG exports triggered by the global financial meltdown. Apparel exports account for nearly four-fifths of the country’s export revenue.

Industry analysts said the high growth rate of export earnings was generated mainly by a rapid increase in sourcing of Bangladeshi readymade garments by western importers.

The increased cost of raw materials, including cotton, yarns, and fabrics, in the previous months also raised the cost of products that inflated the shipment price.

‘The highly enhanced demand for Bangladeshi readymade garments as well as textile and other products from global importers have been pushing up the export volume and this uptrend is set to be continued,’ said Export Promotion Bureau vice-chairman Jalal Ahmed.

Now, both industry and the government should concentrate on smooth financing of imports required for meeting the supply orders coming from global importers, said the chief executive officer of the bureau responsible for facilitating export industries.

Jalal predicted a further rise in number of orders for supplying the country’s garments and other merchandises as importers of the European Union, the largest export market of Bangladesh, are happy with the simplified rules of origin coming into effect from January 1.

According to the new rules of origin, all categories of Bangladeshi garments, including those manufactured with imported fabrics, will have no value-addition ceiling and enjoy a zero-duty market access.
Hundreds of non-textile and other kinds of products have the potential of enjoying the zero-duty market access, if only 30 per cent value can be added to them here before shipping them abroad.

Former president of the Bangladesh Garment Manufacturers’ and Exporters’ Association Anwar-Ul-Alam Chowdhury Parvez also said that the new and simplified GSP regime of the EU was set to bring in more business for Bangladeshi exporters.

He admitted that garment exporters had already been having good business for the past several months due to rising demand from the post-recession US and EU markets and as many importers had been diverting their sourcing from China to Bangladesh, Vietnam, and Indonesia.

He said, ‘The government should work vigorously for developing the industrial infrastructure, because local entrepreneurs have the drive to increase the present export growth rate by many times. An optimal utilization of the new market opportunities will also create several millions of employment opportunities.’

A sharp rise in shipment of garments to new markets like Japan, South Africa, and Korea has also contributed to the robust rise in exports, Anwar-Ul-Alam added.

According to EPB figures, in July-December 2010 earnings from knitwear exports had increased by 43 per cent year on year to $4.31 billion while that of woven or cut-and-sewn garment exports rose by 41 per cent to $3.64 billion.

The EPB report shows that the year-on-year earnings from raw jute and jute goods exports advanced by 53 per cent to $549 million, home textiles by 78 per cent to $296 million, frozen shrimp by 58 per cent to $266 million, finished leather by 31 per cent to $129 million, and footwear by 49 per cent to $129 million.

The proceeds from exporting tea and bi-cycle however suffered a year-on-year decline, although those amounts are too small to make any significant impact on the overall export growth rate.
 
Good going Bangladesh. I hope BD will also concentrade on boosting its non-textile sector. I would like to see BD grow its services sector particularly outsources of finance and payroll management. BD produces some of the best chartered accountants.
 

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