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Frozen food export growth by 44pc

20120519-Frozen-460DHAKA, NOV 25: Earnings from frozen food, the country’s second largest foreign currency earner, stood at US$ 264.69 million during the first four months of current fiscal (2013-14) registering a growth of 44.06 per cent.

The amount was $ 183.75 during the same period in last fiscal. Among frozen foods, exports from shrimp stood at $ 214.19 million during the period as against $ 160.53 million during the same period in last fiscal. Earnings from the frozen fish sector, however, registered a negative growth of 44.45 per cent. Entrepreneurs attributed the reasons mainly to the ban on export of Hilsha and other raw fishes.

Not only the shrimp, the country’s overall export earnings during July-October period of current fiscal increased by 16.47 per cent to $ 9.747 billion compared to that of the corresponding period of the last fiscal. The amount also surpassed the target by 2.17 per cent.

Although the tempo of growth experienced a downward trend, according to EPB (Export promotion Bureau), the single month export grew by 2.03 per cent with an earnings of US$ 2.119 billion in October, 2013 compared to that 2.077 billion during the same month in 2012. The October earning, however, fell short of target by about 6.23 per cent.
Both government officials and business entrepreneurs have expressed their satisfaction over the overall export performance considering domestic political turbulence, financial meltdown in major export destinations and series of tragic incidents that hit the country’s RMG sector in recent days.

Apparel exporters, however, expressed his disappointment over the growing political unrest which they said, night affect the industry and underscored the need for an immediate solution to the stalemate.

They underscored the need for an immediate end to the ongoing political impasse as well as uninterrupted supply of power and energy for smooth supply of production to sustain the growth.

According to EPB statistics, total earnings from readymade garment exports stood at US$ 7.886 billion during the period registering a growth of 18.92 per cent. The amount was $ 6.631 billion during the same period in last fiscal. Among apparels, the Knitwear products emerged as the top export earner with total receipts of $ 4.022 billion, up by 17.85 percent from $ 3.412 billion registered in July-October period in last fiscal. The amount also surpassed the target by 11.08 per cent. The woven garment exports also grew by 20.07 per cent to $ 3.864 billion during the July-October period as against $ 3.218 billion in the corresponding period of the previous fiscal.

The woven garment export, however, fell short of the target fixed for the period by about 1.73 percent.
The exports of specialized textiles and home textile which earlier recorded a positive growth experienced a negative trend during the July-October period of current fiscal.

Specialized textiles including terry towel, and woven and knitted fabrics, experienced a negative growth of 0.07 per cent as against last three months growth of 8.18 percent. The home textile also experienced a negative growth of 6.04 per cent during the period.

The jute and jute goods witnessed a negative growth, both compared to the corresponding period and the target set for July-October period. Export from the sector stood at $ 262.14 million as against $ 330.41 during the same period in last fiscal. The export of raw jute was heavily affected mainly  because of the depreciation of Indian Rupee during the period.

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