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Bilateral trade with US surges 19% in 2006

Feb '07
Bilateral trade with the US upturned 19 percent to $3.6 billion in 2006, contributed mainly by Dhaka's increased apparel exports. As per latest statistics, Bangladesh' exports to America stood at $3,270 million last year while imports reached $333 million.

Exports to US, the largest destination, shot up 21.6 percent last year as against 6.4 percent elevation in import of US merchandize. Bangladesh' trade surplus with biggest global economy rose from $2.37 billion in 2005 to $2.94 billion in 2006.

Over 89 percent of last year's export was generated by domestic garments shipped to America, which brought $2,914 million earnings. If revenue from export of textile products such as fabrics, home textiles and towels is added, this figure becomes $2,998 million.

Of the country's total apparel imports worth $8.93 billion in 2006, 33.33 percent came from US despite EU maintaining its status as chief export market.

RMG sector would have exceeded $3 billion in revenue if political unrest had not affected clothing shipments to US in fourth quarter of 2006, according to BGMEA sources.

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