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Bangladesh
/ Economy / Commerce
In 1972-73,
the export earnings of the country totalled US$348.33 million,
of which 90% came from the jute export sector. The other major
export producing items were tea and leather. Since then, the country
has been widening its export base. The situation has now vastly
improved with addition of non-traditional items like readymade
garments, shrimps, fish, finished, leather, newsprint chemical
fertilizer, handicrafts, naphtha, ceramic products, fresh fruits,
flowers and vegetables, etc. As a result, the export earnings
increased, estimated to be US $ 5020 million during 1997-98.
The
major importable items include raw cotton, textile fabrics and
accessories cotton yarn, petroleum products, capital machinery,
automobiles including spares and accessories, industrial chemicals
and dyes, pharmaceutical raw materials, milk food, edible-oil,
coal, ferrous and non-ferrous metals, cement, etc. The value of
imports during 1997-98 has been estimated to be US$ 7525 million.
In
line with the global trend, the government has steadily liberalized
its trade barriers and significant progress has been achieved
in recent years in reducing or eliminating non-tariff restrictions,
rationalizing tariff rates and raising export incentives.
More on economy:
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