Export earnings from the USA, the largest export destination for Bangladesh products, witnessed a robust 16.79 per cent growth during the first five months (July-November) of the current fiscal (2015-2016), mostly due to the RMG sector’s good performance.
Bangladesh exports to USA totalled $2460.97 million in the first five months (July-November) of fiscal 2015-16 compared to $2107.11 million during the corresponding period of the previous fiscal (2014-15).The amount represents 19.10 per cent of Bangladesh’s total export earnings during the period.
According to the statistics compiled recently by the Export Promotion Bureau (EPB), the major exports to the US market during the July-November period were woven garment ($1636.27 million), knitwear ($619.76 million), frozen shrimp ($12.69 million), home textiles ($46.31 million) and cap ($27.27 million).
During the period, around 31.31 per cent of the country's total woven garment exports entered the US market, followed by knitwear 11.83 per cent.
Bangladesh’s export earnings from the US in fiscal 2013-14 were impressive with $ 5,583.62 million up from $ 5,419.60 million in fiscal 2012-13. The export in 2011-12 was also impressive totalling $ 5,100.91 million, slightly down from $ 5,107.52 million in fiscal 2010-11. The export earnings in fiscal 2009-10, however, totalled $ 3,950.47 million, down from $ 4,052.00 million in 2008-09, mostly because of the global economic recession.
The 2009-10 fiscal marked the end of an ups-and-down period for Bangladesh exports to the US. From the robust $ 2.5 billion during the 2000-01 fiscal, exports had fallen below $ 2 billion by 2003-04.
Exports to the US rose steadily to cross the $3 billion mark in 2005-06, and peaked at nearly $ 3.6 billion during the 2007-08 fiscal, according to a news agency.