Export earnings from furniture industry witness 18.53pc growth

The export earnings from the country’s furniture industry witnessed an 18.53 per cent growth in the last fiscal year (FY19).

The country bagged $74.89 million from furniture export in FY19, which was $63.18 million in FY18.

According to the latest data of the Export Promotion Bureau (EPB) the export earning in FY 19 was also 7 per cent higher than the fiscal target of $70 million, reports BSS.

Industry insiders said the Bangladeshi furniture is gradually becoming popular among the foreign buyers due to its qualitative standard, time befitting design while the furniture industry has moved much ahead over the last one decade due to modern designs and innovations.

The demand of Bangladeshi furniture is high especially in the Middle Eastern countries side by side the export market of furniture is gradually expanding in the USA, the UK, Japan, Australia, Russia, and South East Asian countries.

President of Bangladesh Furniture Exporters Association KM Akhtaruzzaman said that the quality of Bangladeshi furniture is very good due to newer design, standard timber and efficiency of the woodworkers.

 “As a result, Bangladesh is moving fast in the competitive global furniture market. Bangladesh is now being considered as an alternative to China for furniture exports,” he added.

Director General of EPB Abhijeet Chowdhury said that special emphasis has been given in the 7th Five Year Plan to transform the furniture industry as a permanent export item.

“Initiative has been taken for creating new market for furniture, side by side the businessmen are being given stimulus to create diversified products and boosting exports,” he added.