The New Nation - Internet Edition

UNB, Dhaka

Bangladesh exports in USA have shown some increase in the fiscal year 2007 (January-December). A data released by US Department of Commerce on Friday showed that Bangladesh exports to USA was US$ 3,271.4 million during 2006 whereas in 2007 that figure has increased to US$ 3,433.2 million.

An increase of US$ 161.18 million between 2006 and 2007 could be considered as a notable boost considering the recent natural and political upheaval in Bangladesh during that period as well as slowing down of US economy beginning from the middle of 2007.

The US Department of Commerce ranked Bangladesh at 32 in terms of their volume of trade deficit this year that translates to a three digit upward change from Bangladesh's 2006 rank of 35. The US Bureau of Economic Analysis showed that US export to Bangladesh also increased between 2006 and 2007 and thereby establishing a positive correlation between the two economies. This means that more Bangladesh exports to USA may spur more imports from USA and thereby establishing a two-way linkage between the sectors of the economy of these two friendly countries. Market analysts believe that Bangladesh could expect further increase in its market penetration in the USA if the ongoing policy and institutional reforms could be strengthened along with reforms in the working environment of exporting sectors.

Embassy of Bangladesh in Washington, DC is engaged in further promoting greater economic relationship between Bangladesh and the US including expanded trade opportunities, said a Bangladesh Embassy press release.