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Trade Between UK & Bangladesh

The United Kingdom is the third largest export destination of Bangladesh and the country historically maintains positive trade balance with the UK. During 2017-2018, a total of US$ 3,989.12 million worth of goods were exported to the UK which is 9.74% of total export.The major exportable items include ready-made garments, frozen food, IT engineering, leather and jute goods, bicycle, etc. of which 80% constitutes knitwear and woven garments. The country has initiated diversifying its export basket with high-end and high value-added products and shown remarkable success in exporting pharmaceutical products, computer services, ship building, electrical and electronic products across the world.

Factors contributing to the growth of export from Bangladesh.

  • Competitiveness in terms of quality and price
  • Duty free market access to EU countries under EBA (Everything but Arms) initiative
  • Increasing cost of production in China and other advanced middle income countries
  • Increasing compliance (especially in the RMG and shrimp sectors)
  • Strong backward linkages
  • Strong public-private partnership
  • High pool of young labor force with required skills

Bangladesh Export to the UK

(in million US$)
 
Year Annual Target Actual Export Growth (%)    Total Export of Bangladesh UK Export as% of Total Export
2007-08 1,500.00 1,374.03 - 14,110.80 9.73
2008-09 1,695.00 1,501.20 8.47 15,565.19 9.64
2009-10 1,795.90 1,508.54 0.49 16,204.65 9.30
2010-11 1,834.53 2,065.38 26.96 22,928.22 9.00
2011-12 2,555.65 2,444.57 15.51 24,301.90 10.05
2012-13 3,160.82 2,764.90 11.59 27,027.36 10.23
2013-14 3,590.66 2,917.73 5.24 30,176.80 9.66
2014-15 3,475.00 3,205.45 8.98 31,208.94 10.27
2015-16 3,750.00 3,809.70 15.86 34,257.18 11.12
2016-2017 4,100.00 3,569.26 -6.74 34,846.84 10.24
2017-2018 3,800.00 3,989.12 10.53 40,950.00 9.74