CHAPTER-FOUR

DATA COLLECTION AND ANALYSIS

4.1 Exports in Bangladesh

Exports in Bangladesh decreased to 187.48 BDT Billion in April from 210.27 BDT Billion in
March of 2016. Exports in Bangladesh averaged 35.79 BDT Billion from 1972 until 2016,
reaching an all time high of 211.99 BDT Billion in August of 2015 and a record low of 0.05
BDT Billion in February of 1972. Exports in Bangladesh are reported by the Bangladesh
Bank. Bangladesh key exports are garments including knit wear and hosiery (80% of exports
revenue). Others include: jute goods, home textile, footwear and frozen shrimps and fish.
This page provides the latest reported value for - Bangladesh Exports - plus previous releases,
historical high and low, short-term forecast and long-term prediction, economic calendar,
survey consensus and news. Bangladesh Exports - actual data, historical chart and calendar of
releases - was last updated on July of 2016.

Bangladesh Trade Last Previous Highest Lowest Unit

Balance of Trade -66.65 -57.02 0.00 -128.40 BDT Billion

Exports 187.48 210.27 211.99 0.05 BDT Billion

Imports 254.13 267.29 287.67 0.57 BDT Billion

Current Account 833.00 456.00 1644.00 -1638.00 USD Million

Current Account to GDP -0.80 0.80 3.70 -4.40 percent

Terms of Trade 86.05 85.89 104.70 80.01 Index Points

Capital Flows 4.69 1.54 679.50 -12.72 BDT Billion

Remittances 1214.48 1191.15 1491.36 1005.80 USD Million

Gold Reserves 13.78 13.78 13.78 3.29 Tonnes

Foreign Direct Investment 1700.00 1432.00 1726.00 276.00 USD Million

External Debt 23.50 24.40 24.40 16.17 USD Billion

Crude Oil Production 4.00 4.00 6.00 1.10 BBL/D/1K

Terrorism Index 5.92 5.47 5.92 4.10

Bangladesh exports to several countries of the world

Name of the Countries

Ecuador, France, Germany, Ghana, Hungary, India, Australia Afghanistan, Thailand,
Syria, Singapore, Russia, Sudan, Togo, Taiwan, UAE. Nepal & Malaysia.
Mexico, Indonesia, Japan, Jordan, Mozambique, Korea, Lebanon Brazil, Tanzania, South
Africa, Spain, Sweden, Philippines, New Zealand, Cambodia, Kosovo, Bhutan, & UK.
Myanmar, Canada, Colombia, Norway, Djibouti, Iran, Netherlands, USA, Venezuela,
Zimbabwe, Ukraine, Georgia, Pakistan, Sri-Lanka, Vietnam, Kenya, Yemen & Hong
Kong.

Export Forecast of Bangladesh for 2015-2016

4.2 Imports in Bangladesh

Imports in Bangladesh decreased to 254.13 BDT Billion in April from 267.29 BDT Billion in
March of 2016. Imports in Bangladesh averaged 61.44 BDT Billion from 1976 until 2016,
reaching an all time high of 287.67 BDT Billion in December of 2015 and a record low of
0.57 BDT Billion in November of 1976. Imports in Bangladesh are reported by the
Bangladesh Bank.
Bangladesh imports mostly petroleum and oil (11 percent of the total imports); textile (10
percent) and food items (9 percent). Others include: iron and steel (7 percent), edible oil (4
percent), chemicals (4 percent), yarn and plastic and rubber articles (4 percent). In 2013,
imports of rice grains decreased substantially mainly due to adequate domestic supply of rice
during the period. This page provides the latest reported value for - Bangladesh Imports - plus
previous releases, historical high and low, short-term forecast and long-term prediction,
economic calendar, survey consensus and news. Bangladesh Imports - actual data, historical
chart and calendar of releases - was last updated on July of 2016.

Import Forecast of Bangladesh for 2015-2016

4.3 SHORT TERM SNAPSHOT

Bangladesh records the highest Trade Confidence Score in our survey of twenty five
countries with respondents particularly positive about the outlook for trade volumes, trade
with Europe and buoyed by lower costs for logistics and materials and higher profit margins.

The favorable current backdrop of strong domestic growth and supportive macroeconomic
policy has given Bangladesh a good opportunity to implement some much needed reforms.
This impetus towards reform should improve Bangladeshs attractiveness to FDI investors.
We expect exports to average growth of 10.6% from 2017-20, helped by infrastructure
development, currency competitiveness in Europe, and trade liberalization. Clothing and
apparel accounts for around three quarters of Bangladeshs exports but seven out of the eight
different goods sectors are forecast to grow at a double digit pace from 2016-20.

We expect Bangladeshi GDP to grow by more than 6.5% in 2015 and 2016, helped by
accommodative monetary policy and expansionary fiscal policy. Public investment into
transport and energy infrastructure has risen notably in recent years and this should help
attract more FDI, encouraging more export diversification. But Bangladesh will also maintain
the strong foothold it has the global market for textiles and garments.

HSBC TRADE CONFIDENCE

The trade confidence score rose to 131, a full twenty three points higher than 2015H1, despite
the weaker global outlook (over the same period, we have reduced our forecast for world
GDP growth from 2.6% to 1.9% for 2015 and for 2016 from 2.1% to 2.9%). Moreover,
Bangladesh is now the highest scoring country in our sample of twenty five. Indeed more
than two thirds of respondents expect trade volumes to increase over the next six months, up
from less than half six months ago.

4.4 LONG TERM OUTLOOK

GDP grew by a stronger than expected 7% on the year in 2014/15 (to end-June 2015) and we
forecast full year growth of close to 7% for 2015 and 2016. Expansionary fiscal policy (and
the particular focus on transport and energy infrastructure), improving business sentiment,
reasonable growth in overseas remittances and continued trade liberalization should help
activity maintain solid momentum in coming years. The favorable backdrop of strong growth
and expansionary policy has given Bangladesh a good opportunity to implement some much
needed reforms and the budget for the fiscal year 2015-16 proposes some key infrastructure
measures, including a drive to revitalize public-private partnership initiatives. There are a
number of large projects already under way, including the construction of a four-lane Dhaka-
Chittagong and Dhaka-Mymensingh highways, the Padma Bridge and the Dhaka metro rail
network, coal-fired and nuclear power plants and an LNG terminal. The government has also
unveiled a plan to raise power generation substantially by 2021.
Bangladesh has the fourth largest population in East Asia and its low wage level relative to
China has supported the rapid growth of the textiles and garments sector. Investor confidence
in the sector will also be supported by the Accord on Fire and Building Safety, a five-year
agreement between textile retailers to set minimum standards in Bangladeshs textiles sector.
More than 170 retailers have signed up to this, but to sustain strong growth the sector must
also aim to raise productivity and move into higher-value lines. Rising incomes and improved
infrastructure should gradually open up the market for consumer goods and encourage a
move towards higher value sectors.

4.5 EXPORT CORRIDORS TO WATCH

Clothing and apparel is Bangladeshs biggest export sector, and we expect it to contribute
three quarters of the increase in exports from 2021-30. The textiles and wood manufactures
sector will contribute another 15%. But Bangladeshs economy is gradually upgrading.
Industrial machinery exports are expected to grow by 12% from 2021-30 (faster than the
overall average of 9%, albeit from a relatively low base). According to the World Bank, the
literacy rate for 15-24 year olds in Bangladesh rose to 81% in 2013 from 64% in 2001 and
over the same period the number of mobile phone subscribers per 100 people rose from less
than 1 to nearly 75. Upgrading the skills of the workforce and also the use of technology
should help Bangladesh gradually move into higher value sectors. Indeed we expect ICT
equipment exports to grow by 13% from 2021-30 and exports of road vehicles and transport
equipment to grow by 14% over the same period.

The US, Germany and the UK are Bangladeshs three largest individual export partners
(amongst the 24 trade partners in the HSBC Trade Forecast) and this will still be the case in
2030. Indeed, despite the strong appreciation of the Taka against the Euro through 2014,
exports of clothing and apparel to both Germany and France still grew by a robust 13% in
that year. And as a WTO member, Bangladesh benefits from the European Unions
Everything but Arms agreement, which grants duty free, quota free status to all exports,
except arms and ammunition.
SECTOR CONTRIBUTION TO INCREASE IN EXPORTS

100%
Others
80% Machinary & transfort
manufatcures
60% Chemicals
Fuels
40% Raw materials
Beverage & tobacco
20% Food & animals

0%
2015-20 2020-30

Exports to the US slowed last year, reflecting the suspension of Bangladeshs duty free
access to the US market under the generalized system of preferences (GSP) since June 2013
on safety concerns after the clothing factory disasters. A US review of this in August 2015
acknowledged that progress has been made but concluded that further progress is needed
before the preferences are restored. We see Bangladesh continuing to improve its safety laws.
Meanwhile other markets are also of interest. The fastest growing markets from 2021-30 are
forecast to be the large consumer markets of China, India, Korea, Turkey, Saudi Arabia and
the UAE.

4.6 IMPORT CORRIDORS TO WATCH

According to the 2015/16 World Economic Forum Global Competitiveness report,
Bangladesh is ranked just 123rd out of 140 countries for its infrastructure. But as we
highlighted earlier, the government is taking advantage of the low fuel price, strong GDP
growth environment to implement a number of infrastructure reforms. As a result of these
infrastructure needs, we expect industrial machinery to contribute nearly 20% of the increase
in imports from 2021-30 and for transport equipment to account for nearly 10%. But
reflecting the dominance of the textiles and garments sector in Bangladesh, textiles and wood
manufactures will remain the biggest import sector out to 2030, contributing almost a quarter
of the increase in imports from 2021-30.
SECTOR CONTRIBUTION TO INCREASE IN IMPORTS

100%
Others
80% Machinary & transfort
manufatcures
60% Chemicals
Fuels
40% Raw materials
Beverage & tobacco
20% Food & animals

0%
2015-20 2020-30

China and India were Bangladeshs two largest import partners in 2014 (amongst the 24 trade
partners in the HSBC Trade Forecast) and will still be the top two in 2030, reflecting the solid
growth of these regional giants. Trade liberalization between these countries in recent years is
also set to continue. India and Bangladesh already have a free trade agreement in place while
China allows Bangladesh some preferential trade access and has suggested opening up
negotiations on a possible free trade agreement between the two countries. Other countries
which are expected see their exports to Bangladesh grow at a double digit pace include
Malaysia, Indonesia, Canada and Brazil. These countries are all commodity producers and we
expect that Bangladeshs fuel needs will rise substantially as the industrial sector expands and
develops.

4.7 International Agreements

Bangladesh has concluded bilateral agreements for avoidance of double taxation and
investment treaties for promotion and protection of investment with the following countries:

An Overview of Bilateral Trade Among SARCC Nations

The trade is called the exchange of goods between two countries. Bilateral trade agreements
give preference to certain countries in commercial relationships, facilitating trade and
investment between the home country and the foreign country by reducing or eliminating
tariffs, import quotas, export restraints and other trade barriers. Bilateral trade agreements can
also help minimize trade deficits.

Bangladesh in Regional and Bilateral Trade

1. Asia Pacific Trade Agreement (APTA)
2. BIMSTEC Trade Negotiating Committee (TNC) meeting
3 SAARC Preferential Trading Arrangement (SAPTA)
4 AARC Preferential Trading Arrangement (SAPTA)
5 The Agreement on South Asian Free Trade Area (SAFTA)
6 SAARC Framework Agreement on Trade in Services (SAFAS)
7 Bilateral FTA with India, Pakistan and Sri Lanka
8 Standing Committee for Economic and Trade Cooperation (COMCEC)
9 Trade Preferential System Among the OIC Members (TPS-OIC)
10 Preferential Trade Agreement (PTA) among D-8 Countries (D-8)
11 Bangladesh Foreign Trade Institute (BFTI)
12 International Trade Centre (ITC)
13 United Nations Conference on Trade and Development (UNCTAD)
14 United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP)
15 Canadian International Development Agency (CIDA)
16 European Commission (EC)

4.8 Problems of Foreign Trade in Bangladesh

1. Legal Constraints: The first and the foremost problems in foreign exchange operations
arise due to legal constraints. Since foreign trade indicates exchange of goods and services
between two countries and each country has its own laws, rules and regulations, which are
different from other countries, so problems arise in foreign exchange operations.
For example, an exporter of Bangladesh receives an L/C from the importer of England in
which the goods will be shipped in American ship and delivered in China. In this case
according to which countrys law the dispute, if arise, will be settled, is a problem.

2. Geographical Location: From the geographical viewpoint, Bangladesh is not located in

such a place to trade vigorously. We have encompassed by India from three sides. And India
enjoys a strong industrial base compared to us. Due to economy of scale India can produce
the same quality products at a cheaper price. So this is a problem in foreign exchange
operation

3. Limited Skilled Manpower: Performing the foreign exchange activities is a very tough job
because it involves proper communication with the client, various banks of the country as
well as abroad. A single error may cost thousands of dollars. In Bangladesh there is limited
skilled manpower, who can understand and handle the foreign exchange dealings well.

4. Limited Export Base: Bangladesh has a very limited export base. It does not have the
sufficient supply of raw materials needed to use in the production process. If Bangladesh has
the local raw materials, it would be able to use them in the production process. But
unfortunately the country has to import the raw materials required in various production
processes. As a result, production cost increases and consumers have to spend more to avail
that particular product.

5. Lack of Stable Policy: Policy and structure are an integral part of any kind of operation. It
will suggest us how to perform the operation. But if the policy continues to change frequently
it is not easy to plan and perform also. With the changes of Government new policies are
formed, which is very difficult to cope with. It is hard for the business organizations and
businessmen to settle themselves. They are always deviated from the old track, and have to
run after the new track. This is another problem of our country.

6. Political Instability: Another major problem to conduct foreign exchange business is the
political instability of a country, as the political stability is essential for smooth foreign
exchange operations.

7. Problems in UCPDC Guidelines: According to the Article 4 of the Uniform Customs and
Practices for Documentary Credit (UCPDC), all parties concerned with L/C must deal with
documents not with goods. This may cause problem, as the bank must have to make payment
after the presentations of necessary documents, whether or not the goods are delivered to the
importer.

8. Absence of Policy, Rules and Regulations of Foreign Exchange Operations as per Islamic
Shariah: There is no international Policy, Rules and Regulations of Islamic Banking
Regarding Foreign Exchange Operations, so the Islami Banks has to face problems in foreign
exchange operations.

9. Absence of Islami Money Market: There is no Islami money market in Bangladesh as well
as in the world to deal with Foreign Exchange Operations.

10. Other Problem: Whenever an importer comes to the bank to issue a L/C in his favor, he
has to deposit a certain amount, known as L/C margin. After receiving of the export
documents from the exporter the importer pays the rest amount. But up to this time this L/C
margin amount is kept by the bank without giving any return to the importer, so it is a loss for
the client. He could invest this money anywhere else and could earn some return. The
importer adds this loss this loss with his production cost so the product price goes up that has
to borne by the ultimate customers.

4.9 Investment Opportunity Major Sectors in Bangladesh

Textile:
Sector Highlights:
The fastest growing industry in Bangladesh with RMG accounting for more than 80% of
total exports.

Bangladesh is best placed in the region for textiles and garments because of cheap labor and
trade status with the EU.

Government incentives for the spinning and weaving industries include a 15% cash subsidy
of the fabric cost to exporters sourcing fabrics locally.

There is a huge fabric demand supply gap in the RMG industry which is being me by
imports. Thus the potential for backward linkage industry is enormous.

RMG and Backward Linkage

The phenomenal growth in RMG was experienced in the last decade. With about 4328
factories and a workforce of 4 million, RMG jointly with knitwear accounted for more than
80% of total investments in the manufacturing sector during the first half of the 1990's. The
growing trend in textile sector presents itself particularly appealing to the foreign investors.
COMPARATIVE STATEMENT ON EXPORT OF RMG AND TOTAL EXPORT OF
BANGLADESH
TOTAL EXPORT
EXPORT OF RMG % OF RMGS TO TOTAL
YEAR OF BANGLADESH
(IN MILLION US$) EXPORT
(IN MILLION US$)

2009-10 12496.72 16204.65 77.12

2010-11 17914.46 22924.38 78.15

2011-12 19089.69 24287.66 78.60

2012-13 21515.73 27027.36 79.61

2013-14 24491.88 30186.62 81.13

2014-15 25491.40 31208.94 81.68

2015-16 28094.17 34241.82 82.05

Export Promotion of Bangladesh:

Electronics:
a.Semi-Conductor
b.Cell Phone Assembly
c.Other Electronics
Sector Highlights
1. Manufacturing of semi-conductors could be established as a potential cottage industry.
2. Bangladesh is going to be the largest cell-phone market in South Asia.

Information Technology:
a. Data Processing
b. Software Development

Sector Highlights
1. Investment is mostly confined to information processing.
2. Bangladesh has a cheaper and rapidly growing IT workforce.
3. Government is keen in establishing IT related infrastructure for the development of the
industry.

Natural Gas-based Industries:

1. Electricity
2. Fertilizer
3. Petro-chemicals

Sector Highlights
1. Bangladesh has a substantial gas reserve of about 20 trillion cubic feet (tcf)
2. There is a huge demand for fertilizer in Bangladesh as the agriculture is the principal sector
of the economy.

Frozen Foods:
Sector Highlights:
1. Government is promoting semi-intensive shrimp farming.
2. Fish and prawn exports grew at an average 20% in the past decade.
3. Shrimp processing and export industry is largely dominated by the smaller unorganized
sector.
Investment in frozen food sector with new technology and equipment has a vast potential for
growth.
Leather:
a. Finished Leather
b. Leather Goods

Sector Highlights:
1. The labor-intensive leather industry is well suited to Bangladesh having cheap and
abundant labor.
2. Bangladesh has a domestic supply of good quality raw material, as hides and skins are a
by-product of large livestock industry.
3. Adequate government support in the form of tax holidays, duty-free imports of raw
materials and machinery for export-oriented leather market
4. The industry lacks domestic technology and expertise and local support industries such as
chemicals are still under-developed.

Investment Incentive:
1. Present Government is in the process of setting up of separate Leather Zone relocating the
existing industry sites to an well-organized place.
2. New FDI inflow is highly encouraged and foreign investors are welcome to have the
opportunity.

Ceramic:
Tableware
Sanitary ware
Insulator

Sector Highlights
1. Bangladesh has a skilled manpower in ceramic industry.
2. Historically, tableware industry is labor-intensive.
3. The clean gas reserve required for firing is a great competitive advantage for Bangladesh.

Light Engineering:
1. Machinery Parts
2. Consumer Items
Sector Highlights
1. A growing and increasingly affluent middle class indicates demand for consumer durables.
2. There is a significant sector of cottage industries engaged in simple electronic goods.
3. Export-oriented production in light industries has gained momentum in the past few years.

Agro-based Industry:
1. Canned Juice / Fruit
2. Dairy and Poultry

Sector Highlights
1. Bangladesh has a huge supply of raw materials for the agro-based industry.
2. Fruits and vegetable production has increased significantly in recent years.
3. Government and NGOs have been conducting regular training programs in developing a
skilled manpower for this industry.
4. There is a substantial demand supply gap in the agro-based industry.

4.10 Investment Facilities in Bangladesh

Bangladesh offers generous opportunities for investment under its liberalized Industrial
Policy and export-oriented, private sector-led growth strategy. All but four sectors-
Arms and ammunition and other defense equipment and machinery.
Forest plantation and mechanized extraction within the bounds of reserved forests
Production of nuclear energy, and
Security printing and mining
-are open for private investment in Bangladesh. The governments role is that of a facilitator
which helps create an enabling environment for expanding private investment, both domestic
and foreign. The Board of Investment (BOI), established by the government for accelerating
private investment, provides institutional support services to intending investors.

General Facilities/ Incentives

Tax holiday
Tax holiday facilities will be available for 5 or 7 years depending on the location of the
industrial enterprise. For industrial enterprises located in Dhaka and Chittagong Divisions
(excluding Hill Tract districts of Chittagong Division) the tax holiday facility is for 5 years
while it is 7 years for locations in Khulna, Sylhet, Barisal, and Rajshahi, Divisions and the 3
Chittagong hill districts.

Tax holiday facilities are provided in accordance with existing laws. The period of tax
holiday will be calculated from the month of commencement of commercial production. Tax
holiday certificate will be issued by NBR (National Board of Revenue) for the total period
within 90 days of submission of application.

Tax exemption
Tax exemptions are allowed in the following cases-
Tax exemption on royalties, technical know-how fees received by any foreign
collaborator, firm, company and expert.
Exemption of income tax up to 3 years for foreign technicians employed in industries
specified in the relevant schedule of the income tax ordinance.
Tax exemption on income of the private sector power generation company for 15 years
from the date of commercial production.
Tax exemption on capital gains from the transfer of shares of public limited companies
listed with a stock exchange.

Accelerated depreciation
Industrial undertakings not enjoying tax holiday will enjoy accelerated depreciation
allowance. Such allowance is available at the rate of 100 per cent of the cost of the
machinery or plant if the industrial undertaking is set up in the areas falling within the cities
of Dhaka, Narayangonj, Chittagong and Khulna and areas within a radius of 10 miles from
the municipal limits of those cities. If the industrial undertaking is set up elsewhere in the
country, accelerated depreciation is allowed at the rate of 80 per cent in the first year and 20
per cent in the second year.

Concessionary duty on imported capital machinery

Import duty, at the rate of 5% ad valorem, is payable on capital machinery and spares
imported for initial installation or BMR/BMRE of the existing industries. The value of spare
parts should not, however, exceed 10% of the total C & F value of the machinery. For 100%
export oriented industries, no import duty is charged in case of capital machinery and spares.
However, import duty @ 5% is secured in the form of bank guarantee or an indemnity bond
will be returned after installation of the machinery. Value added Tax (Vat) is not payable for
imported capital machinery and spares.

Foreign Investment
Private investment from overseas sources is welcome in all areas of the economy with the
exception of the four reserved sectors (mentioned earlier). Such investments can be made
either independently or through venture on mutually beneficial terms and conditions. Foreign
investment is, however, especially desired in the following major categories of industries:
Export oriented industries;
Industries in the Export Processing Zones (EPZs)
High technology products that will be either import substitute or export oriented.

Facilities / incentives
For foreign direct investment, there is no limitation pertaining to foreign equity participation,
i.e. 100 percent foreign equity is allowed. Non-resident institutional or individual investors
can make portfolio investments in stock exchanges in Bangladesh. Foreign investors or
companies may obtain full working loans from local banks. The terms of such loans will be
determined on the basis of bank-client relationship.

A foreign technician employed in foreign companies will not be subjected to personal tax up
to 3 (three) years , and beyond that period his/ her personal income tax payment will be
governed by the existence or non-existence of agreement on avoidance of double taxation
with country of citizenship.

Other Incentives
Citizenship by investing a minimum of US $ 500,000 or by transferring US$ 1,000,000 to
any recognized financial institution (Non-repatriable).
Permanent resident ship by investing a minimum of US$ 75,000 (non-repatriable)
Special facilities and venture capital support will be provided to export-oriented
industries under Thrust sectors.
Thrust Sectors include Agro-based industries, Artificial flower-making, Computer software
and information technology, Electronics, Frozen food, Floriculture, Gift items, Infrastructure,
Jute goods, Jewellery and diamond cutting and polishing, leather, Oil and gas, Sericulture and
silk industry, Stuffed toys, Textiles, Tourism.

CHAPTER-FIVE
CONCLUSION
5.1 Significance of the study
Economist specialist says that the outcome of 2015-2016 may not continue in near future
because international pressure is increasing day by day on RMG particular issues. So it is
very important task of government to resolve the all problems of garments workers like
maintaining workplace safety and international standard hour working and standard figure of
salary, bonus as well as overtime payment. One of the ways to empower workers may be by
following Toyota Production System in manufacturing. Role of Trade Union and Labor
Rights Conflicting Relationship with First Line Supervisors Demand for Work-life Balance
Need for Self-respect and Participation Job Turnover and Absenteeism Efficiency and
Productivity of Workers Motivational Issues should be reviewed sincerely.

However, all negative things, we strongly believe Bangladesh can be a country to watch in
the next decade for development faster than others third world if the government take step to
reduce import of those products are expensive that make deficits of trade every year and
make our economy slower. Bangladesh can reduce some items of imported products as
agriculture based economy by producing those like soya bean and palm oil, raw cotton and so
on.

We have found also the biggest obstacles to sustainable development in Bangladesh are also
overpopulation, poor infrastructure, corruption, political instability and a slow
implementation of economic reforms. So the government of Bangladesh should be active to
solve those all problems to increase GDP by giving favorable environment to establish new
industry will reduce imported products that will carry exponential growth continually and
impact on our economy as well as to neighboring nations.

5.2 Findings of the study

Even though Bangladesh is a member of the Third World but today, Bangladesh maintains its
rank among nations with high potential developing an economy that has shown impressive
growth over the years. One might think, given the assumed paucity of natural resources and
industry in the country that Bangladesh doesn't offer much in the way of goods to export.
Quite the contrary, though our neighbor to India doesn't enjoy the same GNP level of the
United States or nearby Asian nations. Bangladesh's two development partners are
respectively Asian Development Bank (ADB) and International Monetary Fund (IMF) few
months ago said one of the major reasons for macroeconomic pressures in the country is
raising oil import. Bangladesh exported in 2013 more than $18 billion worth of supplies
annually, a significant growth from $5 billion seven years prior. Although import in 2015 has
been decreased by around $3000 million by the time mid august but still economy is
depended on import. There are around 650 million USD trade deficits in Bangladesh for
2015. Economist says the government needs to look for alternative means to ease pressure on
economy caused by growing import of petroleum products and also the cause of deficits for
importing heavy machineries and parts, iron and steel and again petroleum products. The
country buys refined fuel oil from varieties companies from different countries.

5.3 Bibliography
1. www.mopa.gov.bd
2. www.nbr-bd.org
3. www.boi.gov.bd
4. www.bangladesh-bank.org
5. www.tcb.gov.bd
6. www.roc.gov.bd
7. www.teaboard.gov.bd
8. www.bdtariffcom.org
9. www.epb.gov.bd
10. www.mincom.gov.bd
11. bea-bd.org/site/images/pdf/33.pdf
12. www.bdresearch.org/.../index.php
13. www.slideshare.net/.../political-economy-of-trade-liberalization-in-bangladesh
14. globaledge.msu.edu Global Insights By Country Bangladesh
15. garments-bangladesh.blogspot.com/.../impact-of-rmg-sector-in-bangladesh
16. www.ycsg.yale.edu/activities/files/Wahid.doc
17. www.assignmentpoint.com Business Economics
18. www.bdresearchpublications.com/admin/journal/upload/.../09176.pdf
19. www.webcrawler.com/
20. www.importexportplatform.com/