Home Business EPZs export earnings growth by 9.62% in H1

EPZs export earnings growth by 9.62% in H1

epzs export earnings growth by 9.62% in h1

Bangladesh’s export earnings from the manufacturing units at Export Processing Zones (EPZs) have posted 9.62% growth to US$3.18 billion in the first half of the current fiscal year.  Meanwhile, the country’s overall export earnings in the H1 rose by 7.84% to $16.08 billion, which was $14.91 billion a year ago.  BEZA attributed workers’ higher productivity, peaceful working environment, one-stop service facilities, which provides all export-related services within six hours, for better performance in terms of export earnings. The workers also enjoy better incentives than other workers outside the EPZs area.  According to BEZA, in the first half of the current fiscal year, enterprises at the EPZs have earned $3.18 billion, exporting several goods to the global markets, which was 9.62% higher compared to $2.9 billion in the same period of the last year. In the first six-month of the current fiscal year, manufacturers of Chittagong EPZ earned $1.2 billion, the highest among the country’s eight EPZs. While Dhaka EPZ fetched $1 billion followed by Karnaphuli EPZ $390 million, Adamjee EPZ $257 million, Comilla EPZ $145 million, Mongla EPZ $45.57 million, Ishwardi EPZ $55.41 million while Uttara EPZ $87.22 million.  During the last fiscal year, EPZs’ factories contributed 19.59% to the national export while Bangladesh earned $31.2 billion in FY 2014-15. Currently, there are eight export-processing zones in the country operating under Bangladesh Export Processing Zones Authority (BEPZA). Manufacturers at the EPZs area enjoy especial facilities to run factories such as uninterrupted electricity and gas supply and other services on fast track basis. These units produce export-oriented products.  EPZ factories produce traditional garments, textile and knitting items, electronic and Electrical Products, Motor car parts, mobile phone parts, Camera lens and parts, Bicycle, Battery, Golf shafts, Leather Products and Foot-Wear, Energy Savings and LED bulbs, Furniture, Tent, Bullet Proof Jacket, Mask, Optical Goods, Toys, Jewelry, Fashion hair, Bamboo coffin, luggage, etc.