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

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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