BD-US trade stands at $7.22 billion in FY2016

[bluesky]

31 Oct 2016, 13:10:11 | Updated : 31 Oct 2016, 13:39:18

Bangladesh-US trade stands at $7.22 billion in fiscal year 2016


FE Online Report
A surge in imports from the United States has taken the value of bilateral trade beyond $7 billion in the last fiscal year.

Statistics available with Bangladesh Bank reveal that the country settled import bills worth $1 billion in the last fiscal year, which is up by around 46 per cent from $690.6 million in FY15.

At the same time, earnings of exports to the US increased to $6.22 billion registering 7.61 per cent growth from $5.78 billion in the previous financial year.

Thus, the value of bilateral trade between two countries stood at $7.22 billion in the last fiscal year, which was $6.47 billion in FY15.

The US is now the second largest trading partner of Bangladesh though it was on the top a few years ago.

The value of bilateral trade with China, which overtook the US to become the country’s number one trading partner, was $10.45 billion in the last fiscal year.

In the last year, the US customs collected $911.60 million as tariffs against the imports of Bangladeshi products worth $5916.77 million.

Bangladesh products do not get any preferential access to the US though it is the single largest export market for the South Asian country.

Even the GSP (Generalised System of Preference) facility has been suspended for three years, under which a very small number of products used to enjoy some lower tariff benefits.

Bangladesh has also been being deprived of its tariff-free access to the US on the grounds that Doha Round negotiation of the World Trade Organisation (WTO) is not yet complete.

 

[Homo Sapiens]

So, India is even behind of USA as the trading partner of BD? But..but..Indian posters claiming here, they can starve Bangladesh to death and bring Bangladesh to its knee just by withholding trade with BD. Seems like they haven't updated about anything since the vedic times. Question is, when Indian will past their glorious vedic ages?

 

[bluesky]

Question is, when Indian will past their glorious vedic ages?

They will discard their Vedic age once they start believing that James Bond was born to their glorious country.

 

[Bilal9]

So, India is even behind of USA as the trading partner of BD? But..but..Indian posters claiming here, they can starve Bangladesh to death and bring Bangladesh to its knee just by withholding trade with BD. Seems like they haven't updated about anything since the vedic times. Question is, when Indian will past their glorious vedic ages?

They will discard their Vedic age once they start believing that James Bond was born to their glorious country.

Guys why should we make these offensive comments just to get a few cheap laughs? Which invites trolls and trashes threads?

India surrounds us from three sides. This is reality. India has their own problems and so do we.

Let's not push ourselves down to troll level - I know we are better than this.

 

[extra terrestrial]

The James Bond part was a good one though...

 

[Nilgiri]

So, India is even behind of USA as the trading partner of BD? But..but..Indian posters claiming here, they can starve Bangladesh to death and bring Bangladesh to its knee just by withholding trade with BD. Seems like they haven't updated about anything since the vedic times. Question is, when Indian will past their glorious vedic ages?

No one gives a flying crap how much or how little you trade with US given its dominated by low quality RMG export and the import side shows how feeble BD consumption is. The point is you IMPORT a crap ton from India that you cannot balance with your export in other direction in any appreciable way.

Why would we need to bring BD to its knees when a few nukes will do not just us but the world a big favour quite cheaply if it comes to that? Heck even smerch, artillery and brahmos barrages will do the job several times over.

There wont be anything left of your swamp to regret betraying your masters in 1971 and then being ingrates to your liberators and new masters. Keep that in mind before you open your mouth again.

But then given Kenya and Uganda (and pretty much everyone no matter how small or poor) produce more way more science per capita than you permanently brain-stunted lot....it is no surprise you dream of being a punching bag yet again....with your India obsession complex. Whats the matter some woman slapped your head in with the remote because you wanted to change the channel away from an Indian soap opera today?

 

[Homo Sapiens]

No one gives a flying crap how much or how little you trade with US given its dominated by low quality RMG export and the import side shows how feeble BD consumption is. The point is you IMPORT a crap ton from India that you cannot balance with your export in other direction in any appreciable way.

Why would we need to bring BD to its knees when a few nukes will do not just us but the world a big favour quite cheaply if it comes to that? Heck even smerch, artillery and brahmos barrages will do the job several times over.

There wont be anything left of your swamp to regret betraying your masters in 1971 and then being ingrates to your liberators and new masters. Keep that in mind before you open your mouth again.

But then given Kenya and Uganda (and pretty much everyone no matter how small or poor) produce more way more science per capita than you permanently brain-stunted lot....it is no surprise you dream of being a punching bag yet again....with your India obsession complex. Whats the matter some woman slapped your head in with the remote because you wanted to change the channel away from an Indian soap opera today?

Seems like your condition is worsening day by days.You should seek help before harming yourself or anyone around you.

 

[gslv mk3]

Seems like your condition is worsening day by days.You should seek help before harming yourself or anyone around you.

What happened dear ? Did you just ran out of rants ?

 

[Nabil365]

What happened dear ? Did you just ran out of rants ?

Diagnosing Nilgiri's mental health is not running out of rants.

 

[gslv mk3]

Diagnosing Nilgiri's mental health is not running out of rants.

Diagnose the India obsession of your compatriots first.

 

[Homo Sapiens]

What happened dear ? Did you just ran out of rants ?

Pointing the obvious is not ranting.The truth is, India is an average trading partner of Bangladesh and we have more crucial partner than India.But due to sense of self importance and bravado indian are blind to this fact.You may remember your central home minister talked about halting cattle trade in the border completely so that Bangladeshi people forced to stop eating beef .But his vigilance only resulted in a thriving dairy industry and self sufficiency in beef in BD.This trade statistic shows,India have very little leverage against BD and our friendship is not some priviledge which India can takes for granted.

 

[gslv mk3]

This trade statistic shows,India have very little leverage against BD and our friendship is not some priviledge which India can takes for granted.

Hardly. Just as @Nilgiri has pointed out, you still cannot balance your deficit with India. Your government too is incapable of taking decisions that might irk India.

 

[Homo Sapiens]

Hardly. Just as @Nilgiri has pointed out, you still cannot balance your deficit with India. Your government too is incapable of taking decisions that might irk India.

We are balancing it with dollar earned by surplus export to western countries.Have you seen the import volume of BD from US? It is not necessary to match the volume of goods in trading with each country.

Sheikh Hasina's love for India is personal gratitude,She is not forced to love India in anyways.She can take decision which is against India's interest just like the previous regime but choosed not to due to her personal bonding with congress leaders.

 

[gslv mk3]

We are balancing it with dollar earned by surplus export to western countries.Have you seen the import volume of BD from US? It is not necessary to match the volume of goods in trading with each country.

Sheikh Hasina's love for India is unconditional,She is not forced to love India in anyways.She can take decision which is against India's interest just like the previous regime but choosed not to due to her personal bonding with India.

RMG exports valued at $6 billion is nothing major.

No it isn't- in rality she knows what is best for BD. If you haven't forgot we aren't a little LDC with an underequipped military.

 

[Species]

Diagnose the India obsession of your compatriots first.

As a fellow Indian, you should help him in his fight against the disorder.