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Bangladesh: April export returns down

Bangladesh’s export proceeds slowed down to 1.16 per cent in April compared with the same period last year. Exports of readymade garment in July and August 2014 witnessed a 0.07 and 4.23 per cent growth compared to that of the same period of 2013 while receipts fell by 2.06 and 9.69 per cent in September and October.

But earning from overseas sales rebounded in November with 9.71 per cent growth in the same year and slowed down to 2.38 per cent in December 2014, while it has been maintaining a moderate growth since January this year. Income from exports of apparel products recorded a significant growth of over seven per cent in the first three months of the calendar year.

Knitwear earnings stood at $10 billion and wovens fetched $10.55 billion during July to April of the fiscal year 2014-15. But both the sectors failed to achieve targets by 6.31 per cent and 4.53 per cent set for the period.

Knit exports fell significantly in April due to fall in orders, mainly due to the recent political turmoil. Buyers followed a wait and watch approach and placed work orders at a reduced volume at the end of last year as the safety drive went on.