Exports of Bangladesh, Trade, Business
Like many other third-world countries, Bangladesh relies quite heavily on exports to provide for the needs of its densely populated nation. The same products sold locally will generally fetch a much lower price than they would on the international market. This means that it is far more profitable for the country to engage in exportation than it is to engage in local trade. While this may mean that a large percentage of the countries GDP is sent off abroad as Bangladesh exports instead of being enjoyed by the country’s own people, it also allows for a steady influx of foreign currency.
Currently Bangladesh’s main export items are garments, jute and jute-related goods, leather, frozen fish and seafood. Just three years ago the country made over $2,000 billion from export trade. The majority of the country’s trade is conducted with the USA but a small portion of exports also sees its way to Germany, the UK, France and Italy. However these figures should not mislead you into thinking that the country is well-off. As one of the poorest and most densely populated countries in the world, the majority of these profits will generally make their way into the pockets of a few wealthy while the rest will be thinly spread out amongst those involved in the production of these goods. To add to this, the country’s economy depends on an erratic monsoon cycle as well as drought and flooding which makes regular harvesting difficult.
Besides these Bangladesh exports, the country is also engaged in the production of rice, tea, sugar wheat, ship scrap metal, textiles, fertilizer, pharmaceuticals, ceramic tableware and newsprint. Though yields can at times be quite high, the country still faces widespread poverty and it is struggling to free itself from this. Some progress has been made, but there are still many people living below the breadline in Bangladesh.