Export income in outgoing fiscal increases
An amount of 53 crore 50 lakh 40 thousand dollar which is 10.55 percent higher than the same period of last year has been earned from export in just outgoing fiscal year.
In the updated reports of the Export Promotion Bureau (EPB) this information was revealed which is 3.04 percent higher than the target.
The exporters told that the fiscal year had started with good news in export trade which is still continuing. The basis of this increase is the continuous increase of growth in the readymade garments sector.
Besides, due to political stability in the country, earnings from other sectors are also increasing. As a result big growth has become possible in export trade. They hope that this trend will continue in the new fiscal year. If this trend continues in the present fiscal period then surprising progress will happen in export earnings.
According to reports of EPB in 2018-19 fiscal year 4 thousand 53 crore 50 lakh 40 thousand US dollar was earned while the target was 3 thousand 900 crore US dollar which is 3.94 percent higher than the target. Simultaneously the growth was 10.55 percent. In 2017-18 fiscal the export earning was 3666 crore 81 lakh 70 thousand dollar.
Analyzing the data it was found that in just concluded 2018-19 fiscal year in the total export earning the contribution of readymade garments is 84.21 percent. However if the earnings from hometex, teritowel is included in this sector then the contribution will be more than 88 percent.
According to EPB reports, in the just concluded fiscal year among the big sectors the highest growth was achieved in agriculture products export which was 34.92 percent. The earning from this sector was 90 crore 89 lakh 60 thousand dollar. The earning has increased by 27.89 percent.
In plastic good the growth has increased by 21.65 percent. The earning in this sector was 11 crore 98 lakh dollar which is 19.8 percent higher. The original target of this sector was 10 crore dollar.
On the other hand in jute and jute goods the growth has decreased. Simultaneously the target could not be achieved. The export earning from jute and jute goods was 81 crore 62 lakh 70 thousand dollar. The original target was 108 crore 50 thousand dollar.
Besides, the income from leather products was 9.27 percent less than the target. Even the growth has also come down by 6.6 percent. During this period the earning was 101 crore 97 lakh 80 thousand dollar.