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Monday, June 11, 2012

Dismal export performance!

Exports fell for the third straight month in May due to a plunged demand for RMG items from debt-crisis-affected Eurozone, On a year-in-year basis, export declined by 4.1% in May. However, exports grew by only 7.0% during July-May FY2012 to $21.98 billion, 7.5% lower than the periodic target for the same period.

Question: Is the government still hoping to achieve the preliminary estimates of 6.3% GDP growth with this dismal export performance given the fact the performance of overall industry sector and service sector is largely dependent on export performance?

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