UK-Bangladesh Trade Facts
 
Factors contributing to the growth of export from Bangladesh
 
Bangladesh Export to the UK

   

 

UK-Bangladesh Trade Facts    

 

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.

 

1.  Competitiveness in terms of quality and price

2.  Duty free market access to EU countries under EBA (Everything but Arms)

     initiative

3.  Increasing cost of production in China and other advanced middle income

     countries

4.  Increasing compliance (especially in the RMG and shrimp sectors)

5.  Strong backward linkages

6.  Strong public-private partnership

7.  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 1,469.28   14,110.80 10.41
2008-09 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

Source: Export Promotion Bureau, Bangladesh

   
High Commission for the People's Republic of Bangladesh, 28 Queen's Gate, London SW7 5JA