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Export to USA down in July-Aug

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Staff Reporter
Export earnings from the USA, the largest export destination for Bangladesh goods, witnessed a downward trend in the first two months (July-August) of the current fiscal (2014-15) totaling $ 892.47 million.
The amount represents 17.36 percent of the country’s total export earnings during the two-month period.
Bangladesh exports to USA totaled $ 977.59 million in the first two months (July-August) of the last fiscal (2013-14).
According to the statistics compiled recently by the Export Promotion Bureau (EPB), the major exports to the US market during the two month period were woven garment ($ 604.75 million), knitwear ($ 226.37 million), frozen shrimp ($ 3.06 million), home textiles ($ 15.67 million) and cap ($ 7.59 million).
During the period, around 29.86 percent of the country’s total woven garment exports entered the US market, followed by knitwear 10.26 percent.
Bangladesh’s export earning from the US in fiscal 2013-14 was encouraging with $ 5583.62 million, up from $ 5419.60 million in 2012-13 fiscal year.
Export earnings from the US in fiscal 2011-12 were also impressive at $ 5,100.91 million, slightly down from $ 5,107.52 million in fiscal 2010-11. The export earnings in fiscal 2009-10, however, totaled $ 3,950.47 million, down from $ 4,052.00 million in 2008-09, mostly because of the global economic recession.
The 2009-10 fiscal marked the end of an ups-and-down period for Bangladesh exports to the US. From the robust $ 2.5 billion during the 2000-01 fiscal, exports had fallen below $ 2 billion by 2003-04.
Exports to the US rose steadily to cross the $ 3 billion mark in 2005-06, and peaked at nearly $ 3.6 billion during the 2007-08 fiscal.