Bangladesh Jute News

JUTE HITS BILLION DOLLAR JACKPOT AS EXPORTS CROSS $20 B MARK

Earnings from jute and jute products exports hit the billion dollar mark for the first time in the country’s history, propelling overall shipments in the first eleven months to $20.53 billions official figures showed. Exporters or raw jute rose 81% and jute goods 40% to take the shipment of the proverbial Golden Fiber to $1.03 billion a figure not seen even in the heyday of the cash-crop in the 1940s-70s. The year-on-year growth in May was over half a billion dollars in absolute term, or 48% more than the same months last year.

product wise export graph 2009-2010

The Export Promotion Bureau (EPB) said the overall shipping grew a blistering 42 percent in the eleven months to May, as the shipments crossed $20 billion for the first time, on the back of booming apparel trade. This is for the first time in the country’s history that exports of jute and jute products reached one billion dollar. The country earned $725.56 million by exporting jute and jute products during July-May of the last fiscal year, when the natural fiber replaced frozen fish as the country’s second largest export item after apparel. 

Analytical graph of total export

REVIEW OF EXPORTS

During July-February, 2010-11 country’s total export earnings amounted to Tk. 98,871.36 crore compared of TK.69,349.44 crore in the same period of last year showing increase of 42,51% of the total export earnings, raw jute and jute goods contributed Tk.5,586.20 crore or 5.64% while non-jute items earned Tk. 93,285.16 crore or 94.36%. During July-February 2010-2011 earnings from manufactured commodities stood Tk. 94,334.31 crore or 95.41% while earning from primary commodities reached at Tk.4537.05 crore or 4.58%.

Source: EPB