DHAKA: The country exported merchandise products worth US$ 11633.57 million in the first three quarters of the current fiscal year, registering 14.50 per cent growth over the same period of the last fiscal year. During July-March period of the 2007-08 fiscal local exporters shipped out export products worth $10159.78 million. Powered by readymade garment exports, which accounted for more than 76 per cent annual export, local exporters fetched $1280.49 million in last March, national board of revenue and export promotion bureau officials said Tuesday. The earning is higher by $67.84 million over the same month of previous fiscal as the local exporters shipped out $1224.65 million worth goods in March 2008. EPB officials who are preparing the detail of the exports are expected to release the data next week. They said exports earning between June and March of the current fiscal is at least $590 million less than the strategic target fixed by the export promotion bureau. They attributed lees demand in the country’s main export destinations in wake of worst ever global financial crisis to slower than expected growth in export by local manufacturers of readymade garments, frozen foods, leather and jute goods. Exports earning for the period could have been much higher had not the country’s export destinations like US and European markets rocked by the financial meltdown, they said. They, however, said the country’s exports situation is batter compared to prevailing situation in the rival countries like China, India, Pakistan and Vietnam. China’s exports in March were down by double digits from a year earlier although the decline was smaller than in February. Exports in March fell 17.1 per cent from a year earlier to $90.29 billion, the fifth straight monthly drop. India’s exports fell 31 per cent lower from previous year as provisional exports figure in March is just under $12 billion. This is for a sixth straight month India witnessed negative growth. Recession in developed economies crimped demand for Indian goods and export growth slowed to 7.3 per cent in April-February to $156.6 billion from a year earlier, sharply lower from close to 20 per cent seen in 2007-08. Pakistan’s export witnessed only 4.3 per cent growth until February. It exported goods worth $ 13,015 million during July-February period of the current fiscal which was $12,842 million during same period of 2006-08. Exports in Vietnam rose only 2.4 per cent in the first quarter 2009, compared to the 22.7 per cent growth in the same quarter of 2008. Compared to negative growth in the India and China and paltry growth in Pakistan and Vietnam Bangladesh’s exports witnessed slowing down in growth, said the EBP and NBR officials. Until June-February period of the current fiscal the country’s exports growth recorded at 15.90 per cent higher over the same period of the pervious year. Finance minister AMA Muhith while announcing the stimulus package against the backdrop of recession in the last week said the country’s export growth will slow down further until next July.
