Bangladesh’s export earnings from the UK during the first half of the current fiscal year rose by 3.16 per cent. The slowdown in the UK economy due to uncertainty over Brexit is seen as a reason for such a sluggish export growth. In the last fiscal year, Bangladesh’s export earnings from the UK rose by 11.76 per cent. In the earlier fiscal export growth to the UK was 12.63 per cent. Bangladesh’s exports to the United Kingdom are likely to go up by ten per cent if the UK is ultimately forced to leave the European Union without a deal.

The EU has granted UK a six-month extension to Brexit. The new deadline is October 31. China has been projected to be the largest gainer of a no-deal Brexit. The second biggest winner would be the United States. Japan can also expect to gain. A no-deal Brexit is also expected to result in increased imports into the UK from Thailand, South Africa, India, Brazil, the Russian Federation, Vietnam and New Zealand, among others. The largest losses would accrue to the EU countries, given that they are the most economically integrated with the UK. Turkey, South Korea, Pakistan, Norway, Iceland, Cambodia and Switzerland are also at risk of seeing a decline in their exports.