DHAKA: According to the latest Bangladesh based Export Promotion Bureau (EPB) data, in July this year knitwear products fetched $1.25 billion, registering a 25.24% growth over the same period last year.

Of the total export earnings, knitwear items fetched $2.10 billion during the first two months of the current fiscal year, which is an increase of 17.19% since the last year. Earnings from knit items surpassed the target by 5.69%.
Positive trend

The Bureau reports that the export earnings stood at $2.01 billion in August this year marking a growth of 3.18% compared to that of the same month in 2012.

"Earnings vary from month to month but the trend is good," EPB Vice Chairman Shubhashish Bose commented.

Earnings from knit products in August 2013, stood at $848.25 million. Meanwhile, export earnings from woven garments rose by 27.02 % to $1.26 billion in July this year while in August, woven earnings stood at $796.05 million.

The country`s overseas merchandise shipments stood at US$ 5.03 billion in July-August period of fiscal 2013-14, up from $ 4.39 billion during the same period of 2012-13, though it missed the target by 3.86 %, according to the EPB data.

"Earnings vary from month to month but the trend is good," EPB Vice Chairman Shubhashish Bose commented.
Downtrend factors

Earnings from jute and jute goods stood at $130.67 million in July-August period of the current fiscal, showing a 14.72% growth. However, the earnings fell short of the target by over 36%.

Explaining the negative growth in jute and jute products export, Bose said the demand has declined in traditional markets especially in Iran, Iraq and Sudan due to their economic situation and political unrest. But the demand is growing in new markets like Russia, he said.

Executive Director of Centre for Policy Dialogue Mustafizur Rahman commented: "The downtrend growth might be the impact of Rana Plaza collapse. But nothing surely could be said before next two or three months.

However, Fazlul Hoque, former President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) said the growth is usual, denying any impact of the Rana Plaza incident.

Source: knittingindustry.com
BDST: 0906 HRS, SEP 11, 2013
RS/BSK