Bangladesh is likely gain in export competitiveness, but loose in imports as a result of the Chinese currency's revaluation of 2 percent Thursday, analysts said.

The New Nation newspaper Saturday quoted Fazlul Haque, president of the Bangladesh Knit wear Manufacturers and Exporters Association, as saying that the initiative taken by China would ease the competition in garments exports of Bangladesh as the production cost of Chinese goods would increase.

Bangladesh's ready-made garments sector has seen growth over the years in geometric progression and presently accounts for about 77.55 percent of the total export of the country. Export volume of the sector is about 6.07 billion US dollars in the just ended fiscal year 2004-2005.

Annisul Haque, president of the Bangladesh Garment Manufacturers and Exporters Association, however, noted that export of Bangladesh may not benefit substantially as the two countries have only a few common export items.

Imports from China, which has emerged as one of the largest sources of imports for Bangladesh in recent times, will inevitable become expensive, the analysts said.

The country's imports from China include products ranging from consumer goods, electronics to industrial machinery.

Source: Xinhua