February 7, 2011

Bangladeshi exports to US grew 41%

Bangladeshi export earnings from the US registered 41.47% growth in the first four months (July-October) of the current fiscal year with buoyant performance that includes frozen shrimp products.

Export earnings from the US, the largest market for Bangladesh goods, in the July-October period of fiscal 2010-11 totalled US$1,626.05 million compared with US$149.43 million during the corresponding period of last fiscal year (2009-10). The amount was 24.19% of the total export earnings of the first four months.

The major exports to the US market during the period include frozen shrimp (US$34.44 million).

During the July-October period, around 19.97% of the country's total frozen shrimp exports entered US market.

Bangladesh's export earnings from the US in the 2009-10 fiscal year totalled US$3.14 billion, a 7.74% fall over US$3.4 billion registered in 2008-09 mostly because of the global economic recession.

The last fiscal year (2009-10) marked the end of an up-and-down decade for Bangladesh exports to the US. From a high of US$2.5 billion during the 2000-01 fiscal year, exports had fallen below US$2 billion by 2003-04.

Exports rose steadily to cross the US$3 billion mark in 2005-06, and peaked at nearly US$3.6 billion during the 2007-08 fiscal year.