Exports looking up

The coronavirus pandemic is coming under control in many countries, but overalls export from Bangladesh still indicate a negative trend. However, official statistics show some signs of improvement.

Bangladeshi businesses exported products worth $3.19 billion in February, $3.44 billion in January and $3.30 in December. The export earnings were 3.92 per cent, 4.99 per cent and 6.11 per cent less than the corresponding months of the previous years.

According to the Export Promotion Bureau (EPB), Bangladesh exported products worth $25.86 billion during July-February of the 2020-2021 fiscal. The export earning was 1.45 per cent less than the corresponding period of the previous fiscal. The amount was 3.61 per cent less than the estimated export income.

However, exports of knitwear, jute and jute products, leather footwear, home textiles, chemical and engineering goods, medicines, handicrafts, bicycles and some other products saw a positive trend amid the pandemic. On the other hand, exports of woven garments, processed agro products, leather and leather goods, frozen fish, non-leather footwear, ceramics, furniture and some other have decreased, EPB sources said.

Of the export earning, 81 per cent came from garments sector. Although, the knitwear export is in positive, trans-boundary business of woven garments is still struggling. Overall, exports of garment products has reduced by 3.75 per cent. In the current fiscal, Bangladesh has so far exported garment products worth $21.03 billion. Of the exports, knitwear were of $11.34 billion while woven garments $9.69 billion.

Despite the negative trend, Bangladesh Knitwear Manufacturers and Exporters Association’s former president Fazlul Haque, has found the exports satisfactory.

“We have done well. Given the positive trend, international buyers have started to response. We are getting work orders, though the magnitude is comparatively low. If the situation is not deteriorated further, exports would return to normal,” Fazlul said.

Amid the pandemic, exports of jute and jute products remain steady. Although merchandisers said that export income from the jute had increased due to price of raw jute went up.

According to EPB, Bangladesh exported jute and jute products worth $8.67 billion during July-February period of the current fiscal. It was 23.67 per cent higher than the corresponding period of the previous fiscal.

Exports of jute twine and sacks has increased 37 per cent and 28 per cent respectively while raw jute saw export fall by 5.96 per cent during the first eight months of the current fiscal.

EPB sources said, Bangladesh exported home textiles worth $730 million, processed agro products of $660 million, frozen food of $338 million, engineering goods of $340 million, non-leather footwear of $210 million, plastic goods of $70 million and handicrafts of $22.3 million during July-February of the current fiscal.

Centre for Policy Dialogue’s research director Khondaker Golam Moazzem told Prothom Alo, “Defying speculations, the export sector has not been affected by the second wave of the pandemic. The situation is returning to normal. With the expansion of Covid-19 vaccine campaign, commercial activities, domestic and international trading of goods have been intensifying day by day.”

However, Moazzem added, “Small entrepreneurs are still lagging behind.”

*This report appeared in Prothom Alo print and online edition, and has been rewritten in English by Sadiqur Rahman