Bangladesh’s textiles top the list of export products
According to Bangladeshi officials, Bangladesh has 750 products that can be exported, but so far only 6 products are exported in large quantities, namely plain knitted garments, home textiles, jute products, leather and leather products, and Frozen seafood.
Statistical data from the Export Promotion Bureau (EPB) of Bangladesh shows that between July and March of the 2011-2012 fiscal year, the export value of the aforementioned six categories of products was US$16.513 billion, and during this period, Bangladesh’s total export value was US$16.513 billion. The export value was US$17.886 billion.
The Bangladeshi government also pointed out that Bangladesh’s export market is also limited to four regions, accounting for 81% of the country’s export market, of which the United States accounts for approximately 22.28%; Europe accounts for 52.14%; Canada accounts for 4.34%; and Japan accounts for 1.89%; the remaining 19.11% are exported to more than 100 countries around the world.
Bangladeshi officials cited a lack of product diversification and a failure to actively develop new markets as the main reasons for this phenomenon.
The Bangladesh government has included computer software products, shipbuilding, agricultural products, electronic and electrical products, footwear industry, furniture products, pharmaceutical industry, paper products, luggage products and rubber products as projects for full development. Hope to open up a larger export market.
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