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Exports earnings up, but lower than target

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Commerce Reporter
Country’s export earnings totaled $ 5,142.24 million in the first two months (July-August) of the current fiscal (2014-15) showing a growth of 2.07 percent growth riding on the moderate performances of the key knitwear, leather and leather products.
The figure is, however, 9.16 percent lower than the strategic target of $ 5,660.60 million, according to the latest figures released by the Export Promotion Bureau (EPB).
The export target for the current fiscal (FY15) was set at $ 33,200 million. Total exports during the last fiscal (FY14) reached $ 30,186.62 million.
The single month export earnings in August totaled $ 2,159.50 million with a 7.25 percent growth but fell 17.46 percent short of the target.
According to the EPB statistics, knitwear fetched the bulk of the earnings during the July-August period with $ 2206.34 million, representing a 4.97 percent growth over the same period (July-August) last year while woven garments earned $ 2025.42 million, a fall of 1.60 percent.
Export of home textiles totaled $ 115.99 million with a fall of 0.79 percent; leather footwear exports earned $ 95.52 million; primary commodities $ 226.26 million; frozen foods including frozen fish, shrimps and others $ 122.20 million; and agricultural products $ 104.06 million.
The export trend for leather and leather products and plastic products maintained their upward trend during the July-August period.
Leather exports totaled $ 66.15 million; leather products $ 40.59 million; cotton and cotton products together earned $ 19.51 million; plastic products $ 17.18 million; while rubber exports came in the positive trend to total only $ 2.49 million.
During the two-month period, export of glass and glassware notched a staggering 3,600 percent growth with $ 0.37 million, followed by tea notching a whopping 700 percent growth with $ 0.40 million, cosmetics with 1083.33 percent growth ($ 0.71 million).
Exports of jute and jute goods in July-August totaled $ 115.95 million, registering an 11.27 percent fall. Raw jute exports fetched $ 12.44 million with 10.50 percent decline; jute yarn and twine $ 76.67 million; jute sacks and bags $ 16.82 million; and other items brought in some $ 10.02 million.
Engineering products including iron and steel, bicycle and electronic products fetched almost $ 54.61 million.
Export of man-made filaments and staple fibers totaled $ 13.72 million while other manufactured products earned $ 21.23 million.
Export growth of ships, boats and floating structures are yet to get a boost in this two-month period bagging only $ 0.03 million.
Export of handicrafts totaled $ 1.27 million; paper and paper products $ 5.66 million; furniture $ 4.11 million; chemical products $ 16.68 million; pharmaceuticals $ 12.73 million; and ores, slag and ash $ 1.13 million - a 61.17 percent fall in July-August.
Specialized textiles including terry towel, special woven fabric and knitted fabrics marked a negative growth of 28.74 percent earning $ 14.68 million in July-August while export of petroleum byproducts showed positive trend fetching $ 13.19 million.