Dhaka, Bangladesh (BBN)– The government has fixed the export target at $28.0 billion for the fiscal year (FY) 2012-13 representing an 11 percent growth over the last fiscal year, officials said.
The export target was fixed at a meeting presided over by Commerce Minister GM Quader at his office in Dhaka on Thursday where apparel exporters, who account for about 80 per cent of the earning, endorsed the government projection.
The country is expected to achieve 6.50 percent export growth in the FY’12 ended in June last with a total export earning of $24.41 billion, which is less than the target of $26.50 billion earlier set for the year.
The minister told the meeting that the target was fixed in line with the national budget and also keeping in mind the ongoing global recession, exchange rate of foreign currency, increasing production cost and competition in the world’s export market.
He was optimistic about the achievement of the export target set for the the FY’13.
For the current fiscal year, all 21 major export products, barring those related to petroleum, have been projected to grow, including the top item knitwear at 11 percent, woven garments 11.50 percent, jute and jute products 9.62 percent, leather products 46.48 percent, plastic products 33.13 percent, ships, boats, and floating structures 65.55percent and agro-products 12.41 percent. Export of frozen food is expected to grow by a modest 11 per cent.
“To achieve the target is not impossible but subject to the global economic and internal power situation,” a leading exporter said.
BBN/SSR/AD-07July12-1:04 pm (BST)