by Refayet Ullah Mirdha
April 21,2017 | Source: The Daily Star
Export receipts from some non-apparel sectors dropped in July-March mainly because of a gas shortage in the country, volatile economic conditions in the European Union and the effects of Brexit, according to industry people. Some of the sectors that have potential but witnessed poor earnings in the first nine months of the current fiscal year are frozen and live fish, shrimp, petroleum byproducts, finished leather, specialised textiles, ceramics, bicycles, electronics and terry towel.
A volatile political and economic situation in major EU countries and Brexit put a negative impact on Bangladesh's exports, exporters said. Europe accounts for more than 60 percent of Bangladesh's total exports and is the largest destination for exporters. In July-March, earnings from frozen fish and shrimp exports declined 4.94 percent and 3.29 percent to $382.59 million and $325.24 million respectively, according to data from the Export Promotion Bureau. Kazi Belayet Hossain, vice-president of Bangladesh Frozen Foods Exporters Association, said shrimp prices declined to $9 a kg from $12 last year, due to the economic uncertainty in the EU.
On average, the price of fish going to the EU fell 30 percent in the last one year although the export quantity of frozen foods and shrimps increased,