Record high exports

THE country's export earnings soared by 23.22 percent in December to chalk up US$ 29.1 billion in 2013, the highest in the nation's history. What's especially noteworthy is that the export upswing was attained against stunning odds. Turbulent politics at home and dwindling image overseas of the principal export grosser, the garments sector regardless, exports notched up the record high. Garments sector remains a tower of strength; for, it alone grossed US$ 23.5 billion compared to US$ 25.1 billion in 2012.
It has shown resilience in the face of domestic odds compounded by image problems. The BGMEA and its constituents, financial institutions, Export Promotion Bureau (EPB) deserve our felicitations.
Two factors contributed to the improvement of our overseas market share: One, diversification of garment products; and two, catering to new markets like India, Japan, Russia, Mexico, Brazil, South Africa, South Korea, Malaysia, China and Australia. They are becoming strong new destinations.
There is a caveat though, sounded by BGMEA President Atiqul Islam, who explained that 2013 export figures represented supplying to orders that came before troubles on the domestic front set in. Besides, one has to take into account the high airfreight cost entailed in despatching Tk 5,000 crore worth of goods.
Continuing political unrest can only undercut our export competitiveness aside from risking shifting of orders away from Bangladesh. It is high time, therefore, that political parties accord utmost importance to the primacy of letting the wheels of economy turn uninterrupted. The sky would then be the limit of our achievements.