Home / Knowledge / News / Textiles / Trade deficit widens as China floods domestic market
Trade deficit widens as China floods domestic market
12
Mar '08
A business meeting with delegates from China was held on March 11 by the Dhaka Chamber of Commerce and Industry (DCCI) at its auditorium at Motijheel in the city.

The meeting discussed trade gap between Bangladesh and China which is increasing at a rapid pace.

Last year itself, Bangladesh recorded a trade deficit of US $2.56 billion. This is mainly due to huge import of goods worth $2,534 million from China.

China, on the other hand, imported goods worth only $93 million in the year 2006-07. Experts believe that low cost Chinese products are making Bangladesh more and more dependent on imports of goods like raw cotton, machinery, knitted fabrics, man-made staple fibre and filament, equipment, fertilizer, organic chemicals, special woven fabrics and readymade garments.

Bangladesh in turn largely supplies jute, jute goods and chemicals to China. This is also one of the reasons that make bridging trade deficit an impractical prospect because the list of domestic export goods fall way too short compared to that of its trading partner.

Trade gap of more than two and a half billion dollars has been caused in just about six months. Besides, Chinese goods are not only price-competitive but also qualitatively superior when compared to those of India.

Local importers therefore cling to China for its easy trade procedure and speedy shipments.

Since Bangladesh has a very strong hold over its readymade garment and Knitting sector, China can cooperate to strengthen it further by attracting investments for textile and clothing industry. Jute based-textiles can also be explored to plan future expansions.


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search