The nation has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets
Exports dip in July
Exports this July are down 12 percent over the same month last year -- and 16 percent below target set by the Export Promotion Board (EPD).
Published : 12 August 2015, 03:58 PM
Updated : 12 August 2015, 03:58 PM
EPB Vice-Chairman Subhashis Basu told bdnews24.com this was because of the adverse impact of the political violence earlier this year.
"The export income coming into the country this July accrued from the orders placed in January and February, when political turmoil was causing huge dislocations," Basu said. "Buyers had cut down on orders at that time."
Export income this July stood at $ 2.62 billion against $ 2.98 billion last July, EPB statistics indicate.
The export target in July 2015 was $3.01 billion.
Readymade garment exports have dropped 13.08 percent this July while woven garment exports have dropped 10.11 percent.
"Almost eighty percent of our exports come from readymade garments and woven garments. Since exports of both have dropped, it has impacted adversely on the overall export income," said Basu.
Exports have also suffered due to Eid festival and cyclone 'Komen' which impacted on shipping, he said.
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