“However, data from the Export Promotion Bureau showed earnings in the first 10 months of the 2008/09 fiscal year surged about 13 percent to $13.10 billion…Exports for February and March had shown increases of 1.5 percent and 4.5 percent respectively, but both figures were well below target…Earnings from knit textiles during the period rose 19 percent to $5.29 billion from the previous year, while exports of woven garments rose 17 percent to $4.57 billion…Despite growth in clothes exports, foreign sales of frozen food, leather, jute goods, electronics and others declined as the global slump slashed demand for those items…The global meltdown has also forced a decline in the country’s prime textile exports..
“Exporters of readymade garments — which mostly go to the United States and European countries — said they faced a drop in import orders and a cut in prices, and fear that the situation will deteriorate further…Officials say Bangladesh is unlikely to achieve its $16.3 billion export target for the current financial year. Exports in the previous fiscal year to June 2008 totalled $14.11 billion, of which almost $10.7 billion came from garments…Exports and remittances from Bangladeshis working overseas are key sources of foreign exchange for the impoverished south Asian country of more than 140 million people..
Date:6/9/2009
Source:Alibaba.com