Bangladeshi exporters fear that UK demand for their may reduce due to uncertainty the Brexit outcome.
Bangladesh’s export growth to the UK has reduced in pace, to an increase of 3.16%, compared to 14.42% overall export growth for the whole of Bangladesh.
The growth prospect for the third largest export market for Bangladeshi goods may weaken further. According to the Export Promotion Bureau (EPB), Bangladesh earned $2.04 billion from exports to the UK during July-December of the 2018-19 fiscal year. The figure was an increase of $1.98 billion over the same period a year ago.
Bangladesh’s overall export earnings for the last financial year from the UK saw an 11.76% growth to $3.99 billion, compared to $3.57 billion in the previous year.
However some industry experts as well as economists think that exports would not be much affected by Brexit, as the government of UK has committed to provide duty and quota-free market access, even after Brexit is completed.