Bangladesh Trade Data means the list of all the import and export products of Bangladesh in one financial year. According to a World Bank report, Bangladesh had a total export of 31,734,162.42 USD and total imports of 48,058,710.04 USD. Bangladesh exports goods and services @ 15.32% of its GDP and imports @ of 21.44% of its GDP.
Bangladesh is located in South Asia and is a neighbor of India. It is a very poor country and the country’s economy is purely based on agriculture. So this country has started industrialization to overcome poverty because for most of the product it depends on other countries. Bangladesh is a permanent member of SAARC and has signed trade deals with India and with the EU. It is the second-largest manufacturer of clothes after China and around 69% of clothes made in Bangladesh are exported to European countries.
Bangladesh Trade Data is very important for those who want to do import-export data with Bangladesh. The import data Bangladesh will help you to get all the trends of the international market and you can easily identify the preference of customers which will boost your trade business. Here on our website, you can get all the Bangladesh trade data and the source of this trade data is from the documents that we get from the Customs department of Bangladesh.
This trade data will include:-
- Name and contact details of importers and exporters.
- Quantity of shipment and date of shipment.
- Name and address of Origin port and destination port.
- HS Code and description of the product.
- FOB value of the product in Taka and USD.
- Mode of transportation (air, water, land).
All the above-given data will help you to get trade business and will surely increase your profit. The import-export data can help a businessman in exploring the market so that one can sell or produce new products according to customer demands and preferences.
Largest trade partners of Bangladesh
Bangladesh Trade data is changing every year as the demand for local public changes so the countries that play the major role on average in both import and export throughout all years are as follows:-
- United States
- United Kingdom
Recent trade data of Bangladesh
Bangladesh Trade Data shows that in the year 2019 it has total export of 45 billion products and a total import of 50.4 billion dollars. But in 2020 up to June, it had a trade business of only 1.6 billion dollars which shows that there is a major decrease in demand for the product in Bangladesh due to the pandemic situation that happened in 2020.
The goods and services that Bangladesh import for the country is import data of Bangladesh. Globally Bangladesh is at 49th rank in the list of importer countries and it is the largest importer of cotton.
Based on Bangladesh Trade Statistics, the country is highly dependent on products imported from neighboring countries like India and China. Last, the maximum import was noticed in 2019 after that due to the endemic the import trade of Bangladesh slipped to 2.11 billion dollars from 3.90 billion dollars in June 2020. In 2019 Bangladesh’s top import products are iron, steel, machinery, cotton, and mineral oil.
Main Imports of Bangladesh
Import data Bangladesh revealed the Statistics of top 10 imported products are around three-fifth or 60% of the total imports of Bangladesh. In 2019 Bangladesh was at 18th position in imports.
- Computer machinery (11.5% of total import)
- Cotton (10.8%)
- Electrical equipment (6.4%)
- Mineral oil and fuel (8.7%)
- Iron, steel (5.8%)
- Plastic (4.4%)
- Vehicle (3.5%)
- Man-made fibre (3.7%)
Bangladesh machinery import
Bangladesh spends more and more on the import of machinery. The machinery import data of Bangladesh shows the types of machine that they import from other countries like:-
- Temperature changing machine (62%),
- Liquid pumps (24%).
- Purifiers and filters (6.5%).
The other machinery imported data of Bangladesh includes:-
Computer machinery, optical reader, Yarn washing machine, iron, sewing machine, knitting, stitching machines, liquid, air, and vacuum pumps, vapors based boiler, man-made filament, etc
Bangladesh also imports electronic machinery from other countries to meet the basic need of the country. Electronic machinery includes an electric motor, generator, storage battery, Television and radio parts, electric and optical circuit machines, phone and its parts, signal converters, sound media unrecorded, phone receivers, connectors, projector, etc.
Bangladesh is either small in size but it is one of the largest manufacturers of clothing and textile industries in the world. This is also the largest textile manufacturing industry because of the cheapest labor rate, new technology, and highly skilled workers are easily available in Bangladesh Therefore Bangladesh is the exporter of readymade garments and for that, they need raw materials like clothes machinery, etc. that they import from other countries. It is the largest importer of cotton. They mostly import uncared and uncombed cotton. Moreover, they are also the importer of woven mixed fabrics, woven fabric that contains 85% cotton. The various subcategories of cotton and product related to cotton that Bangladesh Import are as follows:-
- Woven fabric (85% + cotton, under 85% cotton)
- Woven cotton fabric ( mixed cotton)
- Yarn (85%+ cotton, under 85% cotton)
- Cotton sewing thread
- Other mixed woven fabrics
Bangladesh mostly imports hydropower energy made up of natural gas and electrical energy and high-temperature energy made up of distilled coal and coal tar oils etc. The demand for this energy is being increasing day by day in the country. For example, there is an increase of 138% is being recorded in demand for electric energy in the year 2018 and 2019. Other major fuels that the country imports from other countries are as follows:
- Processed petroleum oils and petroleum gas
- Electric energy
- Coal and solid fuel are made up of fuel.
- Petroleum jelly and wax
- Coke and semicoke gas
- Coal tar oil
- Distilled tar oil.
- China (21%)
- India (12%)
- Singapore (9%)
- Hong Kong (5%)
- Indonesia (4%)
Other import countries are Brazil, Indonesia, Malaysia, Kuwait, Japan, and South Korea, etc.
Bangladesh also planned to import hydropower projects from Bhutan and Nepal which is about 56% of total commercial energy produced by natural gas.