Bangladesh’s exports to Europe plunged by 16.29 percent in the first month of the current 2015-16 fiscal, depicting a poor performance in the country’s largest export market. Exports to Germany, the largest single-country market in the EU zone and the second largest export destination after the US, has also seen a fall in the first month of the FY 15. According to Export Promotion Bureau (EPB) data, the country fetched $1.44 billion from exports to the EU in July this year, down from $1.731 billion in the same month a year ago. Exports to Germany came down to $400.64 million in July this fiscal from $524.25 million in the same month of last fiscal. Stressing the need for deploying more efficient officials in the foreign missions, exporters said there is no alternative to ‘marketing diplomacy’ to maintain growth in export income. The exporters are worried over the fall in exports to the EU since the Eurozone is the largest market for Bangladeshi products. “We need more trade exhibitions and a strong diplomatic strategy to brand Bangladesh abroad,” said Andus Salam Murshedy, President of Bangladesh Exporters Association, adding that the export missions should emphasis research both on markets and products. Such research will help the exporters explore new markets, he opined. France, United Kingdom, Denmark, Spain, Netherlands and Sweden are the largest export destinations for Bangladeshi products in Europe, according to EPB data. Bangladesh exported goods worth $267.49 million to the UK, $134.28 million to France, $61.56 million to Denmark, $74.04 million to Netherlands and $164.09 million to Spain in July this year, the first month of FY 15
