There is a steady fall in exports growth and it became distinct over the March and April trade figures. Financial crisis in major
export markets like Europe and the USA is blamed for the setback but other factors may also work along with it, the sources said. The country's exports in April fell by 7.13 percent from a year earlier to $1.89 billion, figures released by Export Promotion Bureau said, more evidence that the euro zone debt crisis is affecting the country's economy.
April was the second straight month of declining exports. In March, exports fell 7.23 percent to $1.98 billion.
Due to reduced orders from Europe, business leaders said Bangladesh is unlikely to achieve its target for exports of $26.5 billion in the fiscal that ends June 30. That target is 15 percent higher than the record $23 billion in exports in the last fiscal year.
Total exports for July-April, the first 10 months of the financial year, were up 8.4 percent from a year earlier, to nearly $19.8 billion.
In July-April, earnings from key readymade garments rose 9.6 percent from a year earlier to $15.5 billion.
In recent years, Bangladesh's economy and exports have been boosted by a dramatic shift in garment orders from China to lower-cost Bangladesh.
Garment export is one of country's key drivers, along with remittances from Bangladeshis working overseas.