Exports in February 2005, especially, saw a mammoth boost fetching US$624 million, recording a tremendous 35 percent growth. Exports amounted to $462 million in February 2004, according to EPB statistics.

Earlier, considering the poor performance in January and possible adverse effect of quota phaseout on readymade garments, the Export Promotion Bureau (EPB) kept the strategic February export target low, which was $606 million. The target for the FY2004-05 was set at $8,565 million and the average monthly target at $714 million.

Knitwear maintained a strong 38 percent growth during July-February period of the FY2004-05 than last fiscal's same period. Knitwear export saw a big 82 percent boost in February 2005 alone.

Exports felt the sting of the quota phaseout in January 2005, with earnings from woven products plummeting by 21 percent compared to the same month in 2004.

The woven export also suffered a major slump in a single month. Export growth in the July-December period of the current financial year was 15.19 percent while it came down to 10.51 percent during July-January period.

Apart from knitwear, export earnings from home textile, chemical and agricultural products, ceramic tableware, electronics, tea and handicrafts crossed their respective targets during the period.

However, earnings in woven garment, leather, footwear, bi-cycle and engineering products fell short of their respective targets but saw positive growth in the first eight months of the current financial year compared to the last fiscal's same period.

Frozen food, jute goods, raw jute, petroleum byproducts and textile fabrics, however, faced setback during the period.

Woven garment exports amounted to $2413 million during July-February period, marking a six percent growth than last fiscal's same period.

Jute goods export fetched $157 million in the first eight months of the current fiscal, recording a seven percent negative growth than last fiscal's same period.

Frozen food exports amounted to $155 million during the period, showing a huge 38 percent decline than last fiscal's corresponding period.