Dhaka, Mon, Sep 2017

Economy

37 missions fail to achieve export target

08 September 2017,Friday, 23:14



Thirty seven missions out of 57 Bangladesh missions abroad have failed to achieve their respective export target in the first month (July) of the current fiscal year (FY18), UNB reports.

The key Bangladesh missions like the ones in Washington, Berlin, Paris, Rome, Canberra, Beijing, Riyadh and Tokyo have failed to achieve their July export targets while some other important missions -- London, Ottawa, Madrid, Brussels, Athens, Jakarta, The Hague -- have been able to reach their targets for the one-month period.

The overall export earnings for July FY18 amounted to $ 2,987.66 million against the strategic target of $ 3,239 million, showing a fall of 7.76 percent over the strategic target.

Of the 57 Bangladesh missions, some 20 missions met their respective export targets set for July of the current fiscal year, according to the latest statistics provided by the Export Promotion Bureau (EPB).

The 20 well-performing missions are in Ottawa, Tehran, London, Brussels, Madrid, Athens, Brasilia, Hong Kong, Jakarta, Nairobi, Kuwait, Boirut, Amman, Male, Port Lues, Mexico City, The Hague, Muscat, Warsaw & New York.

Of the 37 missions that could not achieve their targets for July, exports still marked a rise for 30 of them over the corresponding month of the last fiscal (2016-17).These missions are in Berlin, Beijing, Canberra, Yangon, Singapore, Dubai, Washington, Kualalampur, Paris, Moscow, Manila, Doha, Tripoli, Lisbon, Tashkent, Vienna, Thimphu, Copenhagen, Cairo, Bagdad, Rome, Seoul, Rabat, Katmandu, Islamabad, Riyadh, Pretoria, Colombo, Stockholm and Hanoi.

However, the export growth of the remaining 07 Missions -- New Delhi, Tokyo, Geneva, Manama, Darussalam, Bangkok and Ankara -- was lower than that of the corresponding month of the previous Year (July 2016).

The EPB figures revealed that out of the 18 Bangladesh missions having commercial wings, only five have achieved their export targets while 13 others could not achieve their respective targets.

The five missions with commercial wings, which achieved their respective export target, are in Ottawa, Tehran, London, Brussels and Madrid.

Although the remaining 13 commercial wings could not achieve the July month target, the earnings of 10 of them still saw increase over the July-month period of 2016-17 fiscal. These are in Berlin, Canberra, Beijing, Yangon, Singapore, Dubai, Washington, Kualalampur, Paris and Moscow.

The export growth of the remaining 3 Commercial Wings -- New Delhi, Tokyo, and Geneva -- was lower than that of the corresponding month of the previous year.

The highest earnings over the one month period, some $513.28 million, almost one fifth of the total exports were registered by the Berlin mission, followed by some $ 500.85 million by the Washington mission, and London $ 359.64 million.

The strong showing from EU member states continued with the Madrid mission fetching $ 204.10 million during the July-month period of this fiscal year.The next was the Bangladesh mission in Italy, which earned almost $ 123.75 million, followed by missions in Ottawa and The Hague, with approximately $106.86 million and $ 109.47 million respectively. The New Delhi mission managed to fetch only $45.80 million.

 

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