A 27.11 per cent growth from US $ 224.26 million to US $ 285.07 million has been recorded in readymade garment exports to China from Bangladesh during July-March FY 2017 period. This has been revealed by Export Promotion Bureau (EPB).
Despite 7.28 per cent growth in export earnings, the country however noted decrease in garment and jute and jute goods earnings from India in the July-March period of FY 2017. Garment exports to India in the same period plunged 7.85 per cent to US $ 96.99 million from US $ 105.25 million in the same period of FY ’16. Exports of jute and jute goods to the neighbour in the nine months also decreased by around 17.08 per cent compared to the same period of the last financial year.
Technical barriers such as testing facility of products at the border, complexities in registration requirement, anti-dumping duty on jute products, product specification and border specification among the main reasons of export decline to India.
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These reasons are making Bangladesh to focus on exports to China as it is shifting from production of basic products to high-end and high-tech items, and is meeting domestic demand for basic products through imports.