Exports have declined in the first four months of the current fiscal year compared to the same period in the previous FY.
According to the latest data released by the Export Promotion Bureau (EPB) on Monday, Bangladesh exported goods worth $9.65 billion during July-Oct period of 2014-15 FY, 0.97 per cent less than corresponding period last year when exports fetched $9.75 billion and fell short of target by 7.58 per cent. The four-month target was $10.44 billion.The July-Oct earning in 2013-14 FY was around 20 per cent higher than that of the same period in 2012-13 FY.
Economists and exporters blamed the drop on Eid holidays in October, shutdowns, the impact of the political unrest towards the end of the last calendar year and Rana Plaza collapse and Tazreen Fashions fire.
They, however, hoped that exports would increase in the days to come if political stability prevailed in the country.
Exports could not attain targets in most of the major sectors including knitwear and woven garments during the four-month period. Woven garment export fell short of target by 14.17 percent and knitwear by 2.39 percent. Bangladesh Institute of Development Studies (BIDS) Research Director Zaid Bakht told bdnews24.com: “Many garment orders were cancelled as the Rana Plaza collapse, Tazreen Fashions incident and violent political situation late last year tarnished Bangladesh’s image. Those matters have had a negative impact on exports.”
He said: “Shutdowns have started again. Shipment of goods ihave been affected. Exports have decreased due to all these reasons.”
The economist, however, said the negative trend was temporary and exports would increase if political stability returned.
Bangladesh Knitwear Manufacturers and Exporters Association President AKM Selim Osman toldbdnews24.com: “Factories were shut for several days in October due to Eid. There were shutdowns too. That’s why export earnings declined in that month.” – bdnews24.com
