BANGLADESH INSTITUTE OF INTERNATIONAL AND STRATEGIC STUDIES

AN ANALYSIS OF THE POTENTIAL OF JUTE EXPORTS FROM BANGLADESH

Author: Mahfuz Kabir, S. M. Kalbin Salema

DOI Link: https://www.doi.org/10.566888/BIISSj2020v41n1a3

ABSTRACT

This paper attempts to highlight the future potential of jute exports from Bangladesh in the context of renewed interest on natural fibre because of global climate change. Jute and jute products earned the highest amount of foreign currency till the mid-1980s, which declined rapidly later due to the dominance of artificial fibre in the global market and emergence of readymade garments (RMG) in the export basket. Bangladesh is currently the highest exporter of jute and jute goods in the world market. However, the production and export of jute items are limited to some traditional products but there is an increasing urge to add more environment-friendly products in export basket. The demand for products made by natural fibres has been increasing significantly in the world market, which would be a game-changer for Bangladesh in export earnings. Given this context, this paper aims to assess the future potential of jute production of Bangladesh and for that, it has focused on market potential of jute products according to product category and describes the potential of new products in jute exports. It uses both primary and secondary data and materials to analyze the present global market of the jute products and to identify new diversified products to lead the global jute market made of natural fibre. Finally, it suggests a set of recommendations, which can be implemented by the government and private sectors to improve the overall performance of jute exports.