The Bangladesh government announced yesterday the export target for the current fiscal year at $17.6 billion, which is 13 percent higher than that of the previous year.
The Bangladesh commerce ministry revealed the figure delaying three months. The export target was supposed to be announced in July, the first month of the new fiscal year.
The delay was caused due to unavailability of data from different government departments and agencies, said Joint Secretary to the ministry Monoj Kumar Dhar after a post-meeting briefing at the secretariat.
He said Bangladesh earned $15.18 billion last fiscal year from exports against the target of $16.29 billion, marking a 4.5 percent shortfall.
"The export target for the current fiscal year is not ambitious. It is rational as the whole world is showing signs of recovery from recession," Dhar said.
He said the government has set the target analysing the global recession.
Knitwear export target has been set at 41.46 percent, while 38 percent for woven garment products and the rest for other products, the ministry official said.
"The present export trend indicates that it is possible to achieve the target," Dhar said.
He said exports of knitwear, woven garment, terry towel, handicrafts, textile fabrics, chemical products, footwear products, home textile, computer services and agricultural products increased in fiscal 2008-09 compared to the previous year.
On the downside, exports of tea, raw jute, jute goods, electronics, leather, ceramics and frozen foods declined year-on-year, Dhar said.
Vice Chairman of Export Promotion Bureau (EPB) Mohammad Shahabullah said although all the missions abroad could not achieve the target separately, the average achievement was satisfactory. At present, there are 44 overseas missions.
Bangladesh commerce Minister Faruk Khan at the meeting with exporters, manufacturers, entrepreneurs, traders and leaders of different trade bodies and government high-ups discussed the export target for the current year.
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