Export & Import of Bangladesh
Socio economic profiles of Bangladesh
School of Business Studies
Name: Ilen Hyder
BBA Batch: 16th (E)
Date of submission: 3rd April 2011
Initially known as East Pakistan, Bangladesh is a poor country featuring negative trade balance since its independence in 1971. The country’s economy experienced vast improvement in the 1990s. However, foreign trade in South Asian region still is an area of concern. The value of imports doubled between 1971 and 1991 as compared to the value of exports. The trade deficit has declined considerably owing to an increase in exports since 1991. A closer look at the trade statistics of the country reveals that in 1989-90, imports exceeded exports by 120%. This percentage came down to 56% in 1996 and 62% in 1997. The economy of Bangladesh was once riding on jute, its major produce. Unfortunately, the trend of polypropylene products across the globe led to a setback for the jute industry of Bangladesh. Import and export condition is not so good in Bangladesh. Many times Bangladesh import many products from other countries. Through import and export one country can earn more foreign currencies that are helped to economic development. Some countries they totally depends on import or export trade. So import and export is essential in our country ever others countries.
The main channel for selling goods in Bangladesh is through a local agent, i.e., an agent, wholesaler or distributor. If authorized, companies may use their local agents to service industrial consumers and suggest on government contracts. The organizations prefer to deal with local firms acting as exclusive agents or distributors of foreign manufacturers and suppliers. Foreign firms should consider hiring an exclusive agent/distributor to monitor these jobs. Agent-principle agreements may be either exclusive or...