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percent of total shipments, slipped in the July-August period,
dimming prospects for Bangladesh's overseas sales. In the first two
months of the current fiscal year, woven garment export declined 2.06
percent to $1 ,011.9 million from $1 ,033.2 million in the same
period a year ago, according to Export Promotion Bureau statistics.
Knitwear exports marked a 0.48 percent fall from $1 , 210.14
million in July-August 2008. Both sectors failed to post growth or
meet exports targets for the first two months of fiscal 2009-10. The
August 2009 earnings show 0.71 percent growth, but total export
earnings for July-August 2009 show a 3.29 percent decline.
Bangladesh logged $1.4 billion in earnings from overseas shipments
in August 2009. Total income from exports in the first two months of
the current fiscal year was $2.81 billion, down from $2.9 billion
in total exports in the year-earlier period. EPB Vice Chairman Shahab
Ullah said: "This is the first time that knitwear and woven garments
both failed to post growth figures and meet targets." He however said
whopping export growth in July and August last year explains why this
year's figures do not portray a rise. "But exports will grow in the
coming months as signs of economic recovery appeared in global
markets." However, Bangladesh Knitwear Manufacturers and Exporters
Association (BKMEA) President Fazlul Hoque said a downward curve
might continue for the next five to six months, due to slumping
global demand. He also criticised the government's procrastination in
disbursing the bailout package, which was earlier announced to shield
the export sector from the global financial crisis. He said
disbursement of the package is still far away as the government is
yet to form a committee in this regard. According to BKMEA
statistics, knitwear earned 552.46 million in August, posting a 3.02
percent fall, while the woven sector earned $ 489.22 million at
the same time, posting 0.68 percent growth. President of Bangladesh
Garment Manufacturers and Exporters Association (BGMEA) Abdus Salam
Murshedy said the country's export earnings were bound to drop, as it
did not receive proper government support to thwart global recession,
unlike many other countries in the world. Besides the RMG sector,
home textiles, textile fabrics, raw jute, tea, leather, frozen food,
ceramic products and handicrafts also recorded negative growth than
last year's performance. At the same time, vegetables, tobacco,
footwear and petroleum by-products recorded growth over last year's
records, but failed to achieve targets. Jute goods, electronics, cut
flower/foliage and agro-processed foods achieved targets and
recorded growth.
