Exports mark 22pc growth in Feb

The continued strong growth in demand for Bangladeshi garments helped boost the country's exports in February to US$1.199 billion, up 22 percent on the same month a year earlier.However despite February's export boom, the country missed the overall export target of July-February period by 4.21 percent, earning $8.02 billion during these first eight months of FY 2007-08.Knitwear, the largest export earner followed by woven garments, earned $3.47 billion during the time, marking a 16.43 percent growth over the same period of previous fiscal.It, however, missed the target of $ 3.51 billion for the period.Woven garments earned $3.29 billion, a 5.63 percent growth over the same period of the previous fiscal, but 5.28 per cent below the export target.Frozen food, the country's second largest export earner, showed 5.73 percent growth over the same period of previous fiscal. During the period the sector earned $ 371.93 million.Agricultural products, vegetables, tobacco, ceramic products and footwear also marked considerable growth.On the other hand, handicrafts, computer services and engineering products such as bicycle and iron chain missed the export target.Despite positive growth during the last three months since December 2007, export is still bearing the burnt of the negative growth in the fiscal year's first five months.The government has set the export target for FY 2007-08 at $14.5 billion against the backdrop of over $ 12 billion earning in previous fiscal.“If the garment sector fails to show high growth, it will be hard to meet the target,” said Fazlul Haque, president of Bangladesh Knitwear Manufacturers and Exporters Association.