According to a report by Bangladesh’s “Daily Star” on July 2, bilateral trade between China and Bangladesh has quadrupled in the past 10 years, exceeding US$12 billion. The trade volume between the two countries in the 2008/09 fiscal year was US$3.51 billion, which increased to US$12.38 billion in the 2017/18 fiscal year. According to data from the All-Bangladesh Federation of Industry and Commerce (FBCCI), the bilateral trade volume from July 2018 to March 2019 was US$11 billion, but the trade deficit with China was large. In the past few years, Bangladesh’s imports from China have increased year by year, but exports have been hovering below US$1 billion. Bangladesh has nearly 5,000 goods that can enter China duty-free, but due to its small export basket, it is unable to take full advantage of this preferential measure. Apparel exports ($695 million) accounted for 56% of exports to China in the 2017/18 financial year; jute and jute products accounted for 19%, and leather and leather products accounted for 9%. Among Bangladesh’s imported goods from China, textiles and machinery and equipment account for 68%.
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