India’s exports to Bangladesh saw a sharp decline of 28% year-on-year in August, totaling $681 million, as reported by The Indian Express. This decrease is attributed to ongoing protests against Sheikh Hasina’s Awami League government, which began in July and exacerbated Bangladesh’s foreign exchange crisis.
In comparison, India had exported goods worth $943 million to Bangladesh in August of the previous year, according to data from India’s Ministry of Commerce and Industry. The report highlighted a nearly 10% drop in cotton exports, India’s primary export to Bangladesh.
The protests have led to a slowdown in work orders from Bangladesh, affecting India’s textile industry, which supplies raw materials and other essential inputs to Bangladeshi manufacturers. The reduction in demand has impacted trade between the two countries.
Comment here