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Exports drop by 5% in Jan '07

Mar '07
Country's overall exports in January of the current fiscal year declined by about 5 per cent to $816 million, compared to the same month of the previous year, missing target for the month by more than 23 per cent.

The business slide in January slowed down the overall export growth of the last seven months of the current fiscal at 21.36 per cent to $7.04 billion missing the target slightly by 0.45 per cent, shows official data released by the Export Promotion Bureau on Tuesday.

In December, country's exports grew by about 26 per cent to $1,175 million, exceeding the target by more than 11 per cent which was thinner than the November's 38 per cent, the data showed. Exporters said slide in a single month is not worrisome but they pointed out that missing of significant orders from the global buyers for the Bangladeshi products during the months-long political unrest have resulted in the loss of the country's export business.

The bureau officials said that comparatively lower shipments of knitwear, leather and jute deflated growth of export that was observed in the previous few months while sound performance of the major products - woven garments, home textiles and footwear, kept the growth positive curve. The Tuesday's data shows, during the July-January period of the 2006-07 fiscal, overall export earnings stood at $7040 million against targeted $7071 million for the period, $5801 million for the same period in the previous fiscal.

Readymade garment that earned 76 per cent of the total earnings grew by 22.83 per cent to $5335 million during the period, thinner than 28 per cent of the July-December period. In seven months by January, earnings from woven garments grew by 19.27 per cent to $2,698 million crossing the target by nearly three per cent while knitwear grew by 26.39 per cent to $2637 million missing its target by nearly four per cent.

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