Photo : Collected
The latest data, released by the country’s central bank Bangladesh Bank (BB), indicates a positive trend in the export sector during the initial six months (H1) of the current fiscal year.
While exports of frozen products and fish have experienced a decrease, there has been a notable increase in exports of agricultural products.
In the first six months of the current fiscal year, from July to December, exports of fish and frozen fish amounted to $21.51 million. This figure reflects a decrease of $3 crore, or 12.7 percent, compared to the same period in 2022-23. On the other hand, exports of agricultural products saw an increase, reaching $1.13 crore. Specifically, from July to December, agricultural products were exported at a total value of $50.79 crore, up from $49.66 crore in the corresponding period last year.
Frozen fish and regular fish constitute the key export products of this sector. Notably, fish exports have witnessed a surge, reaching a value of $5.66 crore in the current year. This marks an increase of $46 lakh compared to the same period in the previous year. Specifically, in the first six months of the year, fish exports amounted to $5.20 crore.
Despite being the highest export product, the income of the shrimp export sector has experienced a decline of 20.40 percent. In the first six months, the export earnings from frozen shrimps amounted to $14.59 crore. This figure represents a decrease from $18.32 crore earned during the same period in the previous year, indicating a 20 percent reduction in income over the course of one year.
Frozen Fish Export Association Secretary Sheikh Sohel informed The Daily Messenger that in the first six months of the current year, approximately 9.71 thousand tons of frozen shrimps were exported, whereas the export volume was 13.27 thousand tons during the same period last year (2022-23). This indicates a decrease of about 3,000 tons in exports from Dhaka. Additionally, in terms of currency, the export volume during the first six months was less than 1 crore taka.
He also said, as one of the largest markets for shrimp exports, Europe's decreasing demand due to the global recession presents a significant challenge. However, the Fisheries Department seeks advice on leveraging shrimp value-added products to navigate this situation successfully. Transitioning towards the production of multi-purpose products from frozen shrimp could enhance foreign currency income. It's imperative to progress with these strategies to sustain and strengthen the shrimp export industry amidst changing market dynamics.
Farmers exported vegetables worth $6.41 crore, marking an increase of $3.08 crore compared to the same period last year. Export figures from July to December of 2022-23 stood at $3.33 crore. However, both vegetable and tobacco exports are experiencing a decline, totaling $10.86 crore, with tobacco exports dropping to $81 lakh within a year.
Exports of fruits and flowers have surged at an extraordinary rate, experiencing a staggering 2660 percent increase in the current fiscal year. From July to December of the current fiscal year, exports reached $96.60 lakh, a significant rise from $3.50 lakh in the previous year. Similarly, spice exports have seen substantial growth, reaching $2.51 crore compared to $1.83 crore in the same period last year. Additionally, dry food exports have also increased, totaling $10.62 crore, compared to $10.13 crore in the previous year.
Messenger/Fameema
