Bangladesh’s export earnings in the just concluded fiscal increased by 3.38 percent over the previous year, but still missed the target by 6.41 percent. According to Export Promotion Bureau (EPB), $31.2 billion was earned from overseas sale of products and services in 2014-15 FY that ended on June 30. The target was $ 33.2 billion. The earnings were $30.18 billion in the 2013-14 FY – 11.69 percent up from a year before. EPB Vice-chairman Shubhashish Bose told bdnews24.com export earnings in 2014-15 had surpassed the previous year’s figure despite political violence and other deterrents.
“Earning was less despite a rise in the export volume. Two reasons caused the low income. “One is that buyers from all countries including the USA have cut the prices. Another is the fall in euro and (Russian) Rouble,” he said, explaining the reasons behind missing the export target. According to the EPB, the country earned $3.04 billion from exports in June, registering a 8.57 percent growth over the same the previous month. Bangladesh Bank says the rise in export earnings in June has pushed the foreign exchange reserves up. Its Foreign Exchange and Treasury Management Department General Manager Kazi Sayedur Rahman said an increased inflow of remittances also contributed to the rise in the reserves. The reserves at the central bank were $25.13 billion on Monday.
