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Merchandise export receipts fell short of official target by around US$ 23 million during July-October period of the current financial year, Export Promotion Bureau statistics show.
Major export items like woven garments, raw jute and jute products and vegetables did not match their targets though EPB officials insisted that export trend in most of the products would substantially bounce back in the end of the current fiscal.
The country fetched nearly $ 3.34 billion in export revenue against a target of $3.36 billion. However, in the month of October, merchandise export receipts had surpassed target by $ 168 million, the EPB statistics revealed. The target for October was fixed at $ 704 million.
Sales of woven garments failed to achieve its $ 1.30 billion target and actually fetched $ 1.28 billion. Apparel exporters feared that they would not be exporting much to recover the deficit unless USA gives Bangladesh duty and quota free entry to its market.
"We are not (price) competitive in major markets. If the EU withdraws its duty benefits, we will lose the Europe market as well. We were doing a little better in the US market because America has put quantitative restriction on exports of China," said Annisul Huq, former president of Bangladesh Garment Manufactures and Exporters Association (BGMEA).
Huq argued that Bangladesh should consider import of fabrics from SAARC and ASEAN regions to qualify for the EU's duty-free schemes to sustain its apparels export growth in the future.
The government of Bangladesh, however, believes that import of fabrics and other inputs from those regions might hurt local textile industry and, that is why, the government did not respond to the BGMEA appeal.
The former BGMEA president also felt that Bangladesh's apparel products looked competitive because of WTO protections. "As soon as the WTO protection goes, we may start losing our competitiveness," he observed.
He hinted that the government should negotiate hard and fast with WTO bureaucrats to get duty-and-quota-free benefits in the US market
Meanwhile, export of jute goods also fell short of target by $ 18 million, and fetched $ 114 million.
One of the major jute goods exporters, the Bangladesh Jute Mills Corporation (BJMC) said they would be able to achieve 90 per cent of the $ 132 million target.
"Ten of our mills were shut down since February and they resumed production in September. That is why we exported less than what we actually should have," said Solaiman Chowdhury, BJMC chairman.
EPB officials, however, insisted that the merchandise export receipts, which fell marginally short of target, would be recovered within the next eight months.
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