TRADE & INVESTMENT

The United Kingdom is the third largest export destination of Bangladesh and the country historically maintains positive trade balance with the UK. During 2015-2016, a total of US$ 4,017.6 million worth of goods were exported to the UK which is 11.73% 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 skillsMinistry of Civil Aviation and Tourism

Year	Annual Target	Actual Export	Growth (%)	Total Export of Bangladesh	UK Export as% of Total Export
2007-08	1,500.00	1,469.28	-	14,110.80	10.417
	1,695.00	1,603.41	9.13	15,565.19	10.30
2009-10	1,795.90	1,652.73	3.08	16,204.70	10.20
2010-11	1,834.53	2,231.98	35.05	22,924.38	9.74
2011-12	2,555.65	2,639.31	18.25	24,287.70	10.87
2012-13	3,160.82	2,973.74	12.67	27,018.26	11.01
2013-14	3,590.66	3,143.99	5.73	30,500.00	10.31
2014-15	3,475.00	3,438.56	9.37	31,198.45	11.02
2015-16	3,750.00	4,017.60	16.84	34,241.82	11.73
2016-2017	4,315.00	3,731.14	7.12	34,835.09	10.71
2017-2018 (Jul-Aug)	3,800.00	817.9	129.6	6,628.6	12.34

TRADE & INVESTMENT

Factors contributing to the growth of export from Bangladesh.

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