Bangladesh's earnings from exports grew by 16 per cent to reach US$ 5.8 billion in the first seven months of fiscal 2005-06, the latest Export Promotion Bureau statistics show.
First time in many months, woven garment surpassed its US$ 2.25 billion target which exporters attributed to the US embargo on Chinese apparels.
Exports of Tee-shirt, Polo shirt, basic sweater and other knit garments grew by 28 per cent and fetched around US$ 2.08 billion, during July-January period.
"We hope to earn around $3.8 billion by the end of this financial year," said Fazlul Haque, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
Haque said that most of knit products go to the EU and US markets and that woven and knit apparels together account for 90 per cent of the nation's total export receipts.
"We are trying to diversify our products…it will happen gradually," noted the BKMEA president.
Annisul Huq, the former Bangladesh Garment Manufacturers and Exporters Association president attributed the better-off performance to the quota on Chinese apparel by the United States of America.
"Woven apparel to the EU market did not increase though it did in the US market. And it happened because USA has imposed some embargo on Chinese apparel," observed Huq.
He also said Bangladeshi exporters earned reputation by timely shipping their products to the Western market.
"Our overall export performance has improved, everyone is working hard to avoid shipment failure," Huq said, adding the case of 'stock-lot' (failure in timely shipment) has declined significantly.
Meanwhile, the exports of primary products have fetched some US$ 447 million dollars during this time.
"Our agricultural products mainly go to UK, Italy and Middle East markets," said Farid Uddin Ahmed, a leader of the Bangladesh Fruits, Vegetables and Allied Products Exporters Association (BFVAPEA).
He said Bangladesh could export as much as US$ 2.0 billion, if little care in cargo services could be taken.
Export receipts from frozen sea foods stood at US$ 274 million, jute goods at US$ 208 million and chemical products at US$ 115 million.
The table below gives a glimpse of major export heads.