At the outset, the paper examines some of the striking trends in Bangladesh exports with respect to its composition and destinations. It then analyses Bangladesh export performance by Constant Market Share (CMS) model attributable to commodity composition effect, market distribution effect, competitiveness effect and world trade effect. The paper underlines that the compared with the period 1976-81 although this could not turn the negative market effect into positive. Over the whole period 1976-87, the signs of the competitiveness effects are positive for both manufactures and agricultural products exports. The commodity composition effect due to exports of manufactures over the three periods are positive while that for the agricultural products is negative in all the periods considered. In the area of market distribution effect, the exports of agricultural products have shown relatively better performance compared with manufactured goods exports. Overall, Bangladesh exports are competitive vis-a-vis the rest of the world.