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Bangladesh exports short of target on global woes

Published January 8, 2012 Updated January 8, 2012 08:19am

Exports for July-December, the first six months of the fiscal year, were up 14.7 percent at $11.77 billion, the Export Promotion Bureau said on Sunday.

Earnings from knitwear in July-December rose 11 percent from the same period the previous year to $4.79 billion, while woven garment earnings rose 22 percent to $4.45 billion.

Exports surged 41.5 percent in the fiscal year that ended in June to a record $23 billion, boosted by clothing sales after a dramatic shift in China's orders to the lower-cost South Asian country.

Bangladesh has set its exports target for this fiscal year at $26.3 billion, up 15 percent from 2010-11, but a slower pace of growth than the previous year.

Copyright Reuters, 2010