Bangladesh At A Glance:

13 Feb 2014

Trade Growth in Bangladesh

Trade is often considered to be a key component for growth and development in developing countries because of its multifaceted impact on different areas of the economy including employment, growth, production, international ties and among others. Trade in Bangladesh has been steadily rising over the years. Total trade in Bangladesh reached to USD 61 billion in FY 13 from USD 13 billion in FY 99 as a result of commensurate growth in both imports and exports over the year. Import payment of Bangladesh has gone up from 8 billion USD in FY 99 to about 34 billion USD in FY 13 while exports have risen from approximately 5.3 billion USD in FY 99 to 27 billion USD in FY 13. This means that on average imports and exports have grown at a rate of 11.5 percent and 12 percent respectively annually. However, although increased trade brings rays of hope for Bangladesh, the persistently widening trade deficit which has gone up from about 2.6 billion USD in FY 99 to 7 billion USD in FY 13 has been a constant cause of concern for the policy makers.

Fiscal Year (July-June) Total Import Payment (Billion USD) Total Export Receipt (Billion USD) Total Trade (Billion USD)
1998-99 8.01 5.31 13.32
1999-00 8.37 5.75 14.13
2000-01 9.34 6.47 15.80
2001-02 8.54 5.99 14.53
2002-03 9.66 6.55 16.21
2003-04 10.90 7.60 18.51
2004-05 13.15 8.66 21.80
2005-06 14.75 10.53 25.27
2006-07 17.16 12.18 29.34
2007-08 21.63 14.11 35.74
2008-09 22.51 15.57 38.07
2009-10 23.74 16.21 39.94
2010-11 33.66 22.93 56.59
2011-12 35.52 24.30 59.83
2012-2013 34.08 27.03 61.11

been a constant cause of concern for the policy makers.

Table 1: total trade of Bangladesh (Fiscal Year 1999 to Fiscal year 2013)

Source: Bangladesh Bank, 2013

 

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Next Previous

The paper has been prepared for the Ministry of Commerce of the Government Bangladesh to formulate the Trade Policy Framework which will serve as the benchmark document for the Comprehensive Trade Policy for Bangladesh. The study has carried out detailed analysis of the present tariff structure, incentives and support structure, trade facilitation measures, priority sectors, institutional capacity, bilateral, regional and multilateral trade negotiations in Bangladesh, and has come up with the structure of the proposed policy document.

Khondaker Golam Moazzem, Nazneen Ahmed, Syed Nasim Manzur and Mehruna Islam Chowdhury. (2012). ‘Framework for the Proposed Comprehensive Trade Policy for Bangladesh’, Working Paper No. 99. Dhaka, Bangladesh: Centre for Policy Dialogue.

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