Export earning grows by 15 percent

DHAKA, Bangladesh, June 21 (BSS) - The country's export earning rose to US dollar 11.37 billion in the first 10 months of the current fiscal year [2007-08] showing a 14.66 percent growth over the
corresponding period in the last fiscal.

The target of export earning in the July-April period of
fiscal 2007-08 was US$11.65 billion.

According to Export Promotion Bureau (EPB) statistics, the
export earning in April stood at $1.21 billion against $875.04
million in the same month last year.

Knitwear, the prime foreign currency earner, fetched $479
million in April, while $4.39 billion was earned from exports of
the item in the July-April period, registering a 20 percent
growth over last year's earning.

In July-April period, woven garment products worth $4.19
billion was exported against the target of $4.34 billion,
registering a 9.73 percent growth over the corresponding period
of the last fiscal. The government set a target of woven export
at $5.4 billion for fiscal 2007-08.

Business sources said return of foreign buyers to Bangladesh
after a pause for various reasons accounts for the growth in
export earning. Foreign buyers are coming back to Bangladesh to
import low priced basic garment items.

The lengthy winter season in the West is another reason for
the country's good export earning.

There was no lean period for sweater production this fiscal.
Generally December-March is a lean period of sweater
manufacturing, but this year there was no such lean period,
according to business sources.