Bangladesh Falls in Global Trade Rankings

 

Despite progressing an overall score, Bangladesh has already dropped three places into 123rd in last year’s Global Enabling Trade Index of 136 countries.

In the scorecard of 1 and 7, Bangladesh earned 3.48 scores last year, up from 2014’s score of 3.39 when the country secured 120 positions.

In the seven rankings that made up the whole index, Bangladesh moved up in three, slipped down in three and remained unchanged in one.

The index is part of the Global Enabling Trade Report 2016, a joint publication of the World Economic Forum and the Global Alliance for Trade Facilitation, which is published every two years.

The report assesses the economies evaluating on their capacity to ease the flow of goods over borders and to their destination.

Overall South Asia economics have improved its score over the past two years because of the current economic momentum experienced in this region.

But some country’s progress found slower than others, thus slipping down the ranking. Bangladesh is behind all five other South Asian countries included in that index.

Bhutan was the most improved country in the region, climbing 12 positions and becoming the regional leader at 92nd, followed by India, Nepal, Sri Lanka, and Pakistan.

South Asia remains the most closed region in the world, particularly when it comes to granting access to its domestic market, where its performance deteriorated from two years ago.

Bangladesh slipped six positions to 127 in the domestic market access, six spots to 12 in the foreign market access, and also slipped 17 places to 128th in the operating environment pillar rankings.

Bangladesh has retained its spot of 130 in the efficiency and transparency of border administration rankings.

The country perked up an upward move in the availability and quality of transport infrastructure rankings, transport service rankings, in the availability and use of ICTs pillar rankings.

According to the report, Bangladesh’s trade openness is 34.8 percent of its gross domestic product, while its share of world trade is only 0.22 percent of the total international trade. The report also identified a number of problematic factors that imports face in Bangladesh.

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