Report by the WTO Secretariat

The Bangladesh economy emerged relatively unscathed from the global economic crisis though the country remains vulnerable because its exports are not diversified and it depends heavily on migrant workers’ remittances. Although the economy has become increasingly open in recent years, total merchandise exports have remained limited, averaging 18% of GDP since 2006. Exports remain highly concentrated both in terms of products and destinations, which carries some risk, with readymade-garment (RMG) exports to the EU and the U.S. the current mainstay. However, as a reputable low-cost producer of garments, Bangladesh has gained global market share in recent years. This trend is expected to continue over the medium term, which could partially mitigate the impact of slow growth in advanced economies.