Bangladesh：Export earnings fall by 8pc in October

Export earnings during October this year has declined by 8 per cent compared to the same month of the previous fiscal year，learnt to be the affect of the global economic downturn.

Experts believe that the ongoing global economic recession would hit hard Bangladesh export as well as whole economy creating an awful state. Economists have termed the New Year 2009 as crucial for Bangladesh economy and urged the government to take appropriate measures to face the challenge successfully.

Earnings from of leather exports also declined during the first four months of the fiscal. In July-October leather worth US$71.24 million was exported to different destination，which is 26.40 per cent less then strategic target and 16.25 per cent less then export of same period of previous year. The target for the period was US$96.80 million.

The International Monetary Fund said global financial turmoil will continue to have an impact on Asia even after a year. The Asian Development Bank said steps must be in place to prepare for further slowdown next year，given the rapidly deteriorating global economic situation.