Country’s export earnings from the readymade garments sector bounced back in August posting over 32% rise after suffering more than 12% decline in July, this year. According to provisional data of Export Promotion Bureau (EPB), Bangladesh earned US$2.27bn in August, which is 32.45% higher compared to $1.71bn in same period a year ago. While, in July-August of the current fiscal year, RMG sector fetched $4.49bn, which is nearly 6% higher compared to $4.23bn in the previous year. “There might be ups and downs in export earnings as the country’s apparel industry is going through a development process,” Exporters Association of Bangladesh (EAB) President Abdus Salam Murshedy told the Dhaka Tribune. Salam said, “There is nothing to be cheer up with the growth as we are losing competitive edge, while others are gaining gradually.” The increase in the earnings may be occurreddue to the seasonal orders and reasonable price of the raw materials, he said. Expressing his optimism for regaining the solid position again innear future, Salam said: “The negative propaganda has begun against us as we are stepping into a safe industry, where workers will enjoy safe workplace and other facilities as per the rules of the land.” Little appreciation of Euros against dollars is another cause of rise in export as lion share of apparel products are exported to European countries, he said. Meanwhile, overall exports grew up by 4.71% to $5.38bn in July-August period of the current fiscal year. The figure is 4.82% less than its target of $5.66bn. In July, the first month of current fiscal year Bangladesh registered an 11.96% decline to its export earnings, which was $2.63bn in the same period a year ago. In August, export earnings posted a robust growth by 27.73% to $2.76bn, which was $2.16bn in the previous year. But the figure is 8.43% higher compared to its target of $2.54bn set for the month of August. The government set the export target at $33.5bn for fiscal 2015-16.
