The United States is the #1 export partner for Bangladesh, representing 13.9% of Bangladesh's exports. However, the US is not one of the countries from which Bangladesh primarily imports (CIA World Factbook, 2017). The total trade between the two countries in 2016 was around $6.8 billion, $5.9 billion of which was from Bangladesh to the US. Imports of American goods to Bangladesh totalled just $895 million. Bangladesh is thus the 50th-largest trade partner of the US (USTR, 2017).
Bangladesh exports are woven apparel ($3.8 billion), knit apparel ($1.4 billion), other textiles ($206 million) and footwear ($105 million). The US exports to Bangladesh soybeans ($232 million), cotton ($95 million), corn ($39 million) and feed/fodder ($22 million). Thus, the Bangladesh has a position as one of the clothing and footwear-producing nations exporting to the US, but really only has the means to import small amounts of agricultural goods. Trade with Bangladesh is estimated to support around 6000 American jobs (USTR, 2017).
Financing Trade
There are several critical issues with respect to financing trade between the US and Bangladesh. The Bangladeshi trade finance market is underdeveloped, but it is also beset with significant corruption and a poor legal environment. The Heritage Foundation scores Bangladesh 55.0, ranking 128th in the world, on the...
References
ADB (2016) ADB signs trade finance agreements with four Bangladeshi banks. Asia Development Bank. Retrieved August 5, 2017 from https://www.adb.org/news/adb-signs-trade-finance-agreements-four-bangladesh-banks-0
Baylis, H. (2016). Constraints to trade finance. World Bank. Retrieved August 5, 2017 from https://elibrary.worldbank.org/doi/abs/10.1596/978-1-4648-0898-2_ch7
CIA World Factbook (2017) Bangladesh. Central Intelligence Agency. Retrieved August 5, 2017 from https://www.cia.gov/library/publications/the-world-factbook/geos/bg.html
FFP (2017) Fragile States Index. Fund for Peace. Retrieved August 5, 2017 from http://fundforpeace.org/fsi/country-data/
Heritage.org (2017). 2017 Index of Economic Freedom Heritage Foundation. Retrieved August 5, 2017 from http://www.heritage.org/index/country/Bangladesh
Rahman, M. (2016). Bangladesh a key market for trade finance. Daily Star. Retrieved August 5, 2017 from http://fundforpeace.org/fsi/country-data/
Transparency International (2016) 2016 Corruption Perceptions Index. Transparency International. Retrieved August 5, 2017 from https://www.transparency.org/news/feature/corruption_perceptions_index_2016
USTR (2017). Bangladesh. Office of the United States Trade Representative. Retrieved August 5, 2017 from https://ustr.gov/countries-regions/south-central-asia/Bangladesh
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