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Exports

Bangladesh Commerce Adviser Downplays Impact of India's Jute Import Ban

Strategic Insights

— 2 min read

Bangladesh's new export target for the 2025-26 fiscal year is expected to exceed $63.5 billion, with the government setting an ambitious goal to achieve a 16.5 per cent growth in exports over the previous year's earnings. Commerce Adviser Sk Bashir Uddin has stated that India's recent ban on imports of certain jute products through land ports is unlikely to have a significant impact on Bangladesh's export target. The adviser attributed this to Bangladesh's substantial trade surplus with India, as well as the country's apparel exports to India far exceeding India's exports of goods such as jute to Bangladesh.

Key Takeaways:

  • Bangladesh's export target for the 2025-26 fiscal year is set at $63.5 billion, a 16.5 per cent increase over the previous year's earnings.
  • India's ban on imports of certain jute products through land ports is unlikely to have a significant impact on Bangladesh's export target, according to Commerce Adviser Sk Bashir Uddin.
  • Bangladesh currently enjoys a substantial trade surplus with India, with apparel exports far exceeding India's exports of goods such as jute to Bangladesh.
  • The government has made a formal request to India's commerce minister to enhance trade relations, but no response has been received to date.
  • The export target for the current fiscal year (FY26) reflects a 16.5 per cent increase over the $55 billion actually earned in FY25, despite a target of $57.5 billion for that year.
  • Bangladesh is exploring new export markets, including Japan, South Korea, and Singapore, through negotiations on free trade agreements (FTAs).
  • The country is also promoting non-traditional products and exploring new destinations to diversify export markets.
  • Projected export earnings by product category include $20.79 billion from woven garments, $23.70 billion from knitwear, $1.25 billion from leather and leather goods, $900 million from jute and jute products, and $1.21 billion from agricultural items.

Statistics:

  • $63.5 billion: Bangladesh's export target for the 2025-26 fiscal year.
  • 16.5 per cent: The growth rate in exports targeted for the 2025-26 fiscal year.
  • $55 billion: Bangladesh's actual earnings in the FY25 fiscal year.
  • $20.79 billion: Projected export earnings from woven garments.
  • $23.70 billion: Projected export earnings from knitwear.
  • $1.25 billion: Projected export earnings from leather and leather goods.
  • $900 million: Projected export earnings from jute and jute products.
  • $1.21 billion: Projected export earnings from agricultural items.

Sources:

  • "Bangladesh Commerce Adviser Downplays Impact of India's Jute Import Ban" (The New Nation, published by HT Digital Content Services)

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