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

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra
Huemn

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

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 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search