Bangladeshi Jute exports break all records

13 Jul '11

2 min read

Income from the Bangladeshi export of jute and jute items has broken all previous records to hit the billion dollar mark for the first time.

In the just concluded Bangladeshi fiscal year 2010-11, the overall shipments of the 'Golden Fibre' amounted to US$ 1.11 billion. While the export of raw jute witnessed a sharp 82 percent jump, the shipments of jute items rose by 38 percent.

The revival of the Bangladeshi jute sector is being attributed to the rising demand for the natural fibre in the developing countries, value-addition and diversification of jute products by the private sector, and sharp increase in prices of jute goods witnessed in the global markets.

During fiscal 2010-11, the total exports of Bangladesh also made a new record and touched US$ 22.924 billion, showing a 41.5 percent growth over fiscal 2009-10. Besides jute, increasing export earnings from other prominent sectors such as garments, leather, footwear, shipbuilding, and frozen fish accounted for the extraordinary growth achieved in the country's total exports.

In June 2011 too, receipts from exports rose to US$ 2.38 billion, also a new monthly record. During the month, the year-on-year growth was more than half a billion dollars, or 40 percent more than the corresponding period of the previous fiscal.

Officials and exports estimate that the continued growth in overall exports will take the earnings beyond the US$ 25 billion mark in the new fiscal 2011-12.

Fibre2fashion News Desk - India

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