The country’s export earnings stood at $12.72 billion in July-October period in the current fiscal (FY2018-2019), down by 6.82 percent over the same period of previous fiscal. The inflow was $13.65 billion in the same period of previous fiscal. With a 11.21 percent deficit, the export earnings failed to achieve the strategic target of $14.33 billion.
Exporters attributed the negative growth of overall exports to poor performance of major items, including readymade garment (RMG), leather and leather products, home textile, frozen and live fish and agricultural products, which accounted for more than 90 percent of the total earnings.
Export earnings from RMG decreased by 6.67 percent to $10.58 billion, which is 83 percent of the total export earnings. On the other hand, export earnings from agricultural products stood at $357.5 million during the time, down by 2.46 percent against $366.53 million earned in the previous fiscal.
However, export earnings from jute and jute goods, chemical, and plastic products saw a positive growth. Export earnings from the respective sectors were $314.49 million, $ 70.54 million, and $41.02 million. Besides, cotton and cotton products also witnessed a positive growth of $53.36 million, which is 9.39 percent higher from $48.78 million in the same period of the previous fiscal.
However, export earnings from agricultural products stood at $357.5 million in July-October in current fiscal, which is 2.46 percent lower than that in the same time of previous fiscal. During the same period of FY18, the figure was $366.53 million. Petroleum bi-products saw a negative growth during the period. The figures were $6.07 million on the time.
Highlighting the government’s initiatives to establish the apparel sector in the global market, experts said it is high time to extend similar or more support to other promising sectors like agriculture, ceramic and pharmaceutical. This will reduce overdependence on the RMG sector, they added. The country now is capable of making best quality products at low prices, which will help enhance export earnings even more from developed countries, they said.
Related News: Winter vegetables of Dinajpur being exported
