The New Nation - Internet Edition

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.