Ex­ports in Bangladesh cross-historic mile­stone

Shoes & Accessories - - The Month That Was Updates | International -

Based on data re­leased by the Bangladesh Ex­ports Pro­mo­tion Bureau, the Leather­goods & Footwear Man­u­fac­tur­ers & Ex­ports As­so­ci­a­tion of Bangladesh con­firmed that the over­all ex­ports earn­ings from the leather in­dus­try to­taled 1.23 bil­lion US dol­lars, in­clud­ing fin­ished leather, leather goods and footwear. T he ex­ports earn­ings from the leather in­dus­try crossed the ex­port target of 1.22 bil­lion US dol­lars for this fis­cal year. The ex­ports earn­ings from leather goods to­taled 464.43 mil­lion US dol­lars, cross­ing the target by 3.21%. E xports earn­ings from leather footwear reached 536.96 mil­lion US dol­lars cross­ing the thresh­old of 500 mil­lion US dol­lars and the ex­port target by 9.58%. How­ever, the ex­port earn­ings from fin­ished leather were 232.61 mil­lion US dol­lars, when the ex­port target was 280 mil­lion US dol­lars. In the fin­ished leather sec­tor, the ex­port earn­ings are 16.93% less than the target and de­clined 45.49 mil­lion US dol­lars com­pared to the pre­vi­ous fis­cal year 2015-16. Be­sides, leather goods and footwear sec­tor has a pos­i­tive growth of 19.63% and 8.53% ac­cord­ingly, com­pared to the pre­vi­ous fis­cal year. How­ever, the over­all ex­ports growth in the coun­try dips to 15 years low. If we go back to fis­cal 2010-11 the ex­ports growth rate achieved a 41.49% high, and it has been reg­is­ter­ing ups and down in the last few years. In the 2016-17 fis­cal year the growth rate was only 1.69%. The over­all ex­port target of Bangladesh Ex­port Pro­mo­tion Bureau was un­der­achieved by 5.85%. The lo­cal au­thor­i­ties point out as main rea­sons for this per­for­mance the volatil­ity of the ex­change rates, the taka ap­pre­ci­a­tion and the Brexit im­pact as the UK is the third largest ex­ports des­ti­na­tion for Bangladesh.

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