Bangladesh lags well behind regional trade rivals in capturing a percentage of rising imports to China, the world’s second-largest economy. Like many stores in industrialized countries, it also goes dark due to supply constraints.
Bangladesh’s exports to China were valued at only 799 million US dollars in 2020, even though it was a crisis year for the invading pandemic. This value is dwarfed by Vietnam’s exports to China in the same year, totalling $78.47 billion.
Myanmar exported 6.3 billion dollars to China, while Cambodia exported 1.5 billion dollars—nearly double the amount exported by Bangladesh.
Despite considerable geopolitical antagonism with China, India reaped the benefits of the import bonanza on the market of its adversarial neighbour. India’s average export to China had increased by 1.2 per cent annually for the previous five years before the pandemic breakout.
Bangladesh’s average export increase to China was a meagre 0.05 per cent throughout the same period.
Source: The Financial Express