Bangladesh's exports rose 28 percent in the year through July, above the government's target, but traders expressed doubt over whether the full-year goal for fiscal 2004/05 could be achieved given recent devastating floods.
The increase in July was led by soaring demand for garments, especially in Europe where a stronger euro provided an added boost to Bangladeshi products, Farid Hossain, director of the state-run Export Promotion Bureau (EPB), said on Monday.
EPB officials said Bangladesh exported goods worth $868.13 million in July, 11 percent above target. Export earnings in July 2003 were $678.17 million.
Hossain said he hoped Bangladesh would meet its export target of $8.56 billion for the financial year to June 2005, a 13 percent increase over 2003/04.
"We expect higher export trend to last through the year - at least till December, and that should help Bangladesh substantially to achieve its target," he told Reuters.
But leading textile exporters were sceptical.
"Certainly, exports will fall in August and maybe in next few months as the floods forced many textile factories to shut for weeks, and damaged equipment and raw materials," said Quazi Moniruzzaman, ex-president of the Bangladesh Garment Manufacturers and Exporters Association.