Enabling Export Diversification
Bangladesh’s export growth has been remarkable. Bangladesh aims to generate $54.1 billion in export earnings by FY2020, a significant increase over the $35 billion earned in FY2015-16. The leading sector, textiles and apparels, usually referred to...
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| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/235211537422879242/Bangladesh-Policy-Notes-Enabling-Export-Diversification http://hdl.handle.net/10986/30552 |
| Summary: | Bangladesh’s export growth has been
remarkable. Bangladesh aims to generate $54.1 billion in
export earnings by FY2020, a significant increase over the
$35 billion earned in FY2015-16. The leading sector,
textiles and apparels, usually referred to as ready-made
garments (RMG), has created 4 million jobs overall and
accounts for 82 percent of Bangladesh’s exports. RMG exports
have shown signs of deceleration in the recent past but the
momentum has picked up in FY2018. At the same time, several
other less dominant but promising sectors are showing a
positive export growth trend and could possibly drive export
diversification and job creation in the future.However, the
composition of the export basket has not changed much over
the past two decades.Bangladesh’s HHI (Herfindahl-Hirschmann
Index), that measures the level of sectoral concentration in
exports is about five times that of other export-driven
economies such as Thailand, China and Vietnam. During the
last two decades, Vietnam expanded its export basket from
agriculture to include machinery, footwear and electronics
through national-level strategies and policy reforms to
support specific sectors. However, Bangladesh continues to
be primarily an RMG exporter. |
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