Bangladesh is in South Asia. The economy has grown steadily since 1996. It now considered being a developing economy. Analysts are excited about doing business in Bangladesh because of its growing middle-class.
Bangladesh trade data shows that the Covid-19 pandemic has affected trade imports have shrunk by 17% and exports shrunk by 16.93%. The data showed the top trade partners are China, United States, India, and Germany.
What is Bangladesh Import Data?
We base the Bangladesh import data on custom shipment on goods imported into Bangladesh. We collect the information on import-export documentation required for the import or export of goods. We cover imports from air, sea, and dry ports.
Bangladesh import data is extensive and typically contains information like date of shipment, HS Code, and corresponding product description. Importer and exporter name, country of dispatch and port, net and unit quantity, Price, Bangladesh port, transportation made, etc.
Where do you source Bangladesh import data?
There are several places you can source Bangladesh import data. Some of the sources are government departments, visit trade bodies, or consult market research companies. You have to be sure the company provides error-free data and updated regularly.
One of the best sources of Bangladesh trade data is Seair Exim Solution. We are proud to be serving over 24000 clients around the world since 2009. We provide updated information regularly.
Our data experts verify each entry before adding it to the database. We cover 44 countries and 22,000 products. We use the latest technology to ensure our customers get the information quickly. One of the best sources of Bangladesh trade data is Seair Exim Solution. We are proud to be serving over 24000 clients around the world since 2009.
Our data experts verify each entry before adding it to the database. We cover 44 countries and 22,000 products. We use the latest technology to ensure our customers get the information quickly. You can get access to Bangladesh import data, we offer flexible subscription plans. Our fees are transparent and refundable.
Bangladesh Import Data 2020-21
According to Bangladesh import data 2019, imports were 50 billion USD. The imports from July to December 2020 were 28.8 billion USD. Rice imports increased significantly to 44.2 million USD in the period.
Bangladesh import data shows that overall imports fell in 2021-20 because of the Covid-19 pandemic. Bangladesh import data for April, March, and February were 5.02 billion USD, 5.82 billion USD, and 3.94 billion USD respectively.
Top Imports from Bangladesh Import Data
Bangladesh’s top imports from Bangladesh import data from 2019-20 was machinery including computers (5.8 billion USD), cotton (5.4 billion USD), mineral fuel including oil (4.4 billion USD), electrical machines (3.2 billion USD), and iron and steel (2.9 billion USD).
The fastest-growing sectors from Bangladesh import data were cotton(9%), iron and steel (4.8%), and manmade filament (1.8%).
Electrical machines (-21%) witnessed a significant dip in imports.
Top Import Partners from Bangladesh Import Data
Bangladesh import data can show you the significant import partners of Bangladesh. The top import partners of Bangladesh are China (21.53% of total imports), India(15% of total imports), Singapore(9% of total imports), Hong Kong (5.46% of total imports), and Indonesia (4.59% of total imports).
According to the cotton import data Bangladesh, sources 70% of its yarn from Uzbekistan and Turkestan, 10% of yarn imported from the United States, and 20% imported from others (India, Pakistan, Syria, Australia, and countries in Africa)
Why use Bangladesh Trade Data?
Importers and exporters who want to do business in Bangladesh are aware of the benefits of genuine Bangladesh trade data. It has become a vital tool for traders and businessmen to make their business plans. The detailed information can help you improve your profit margins.
Bangladesh trade data gives you the latest information about your business rival’s trade practice. Use Bangladesh import data to look for opportunities for diversifying and new markets to procure your products.
Bangladesh trade data can give you leads to find new business partners. Study business volumes and prices to shortlist possible buyers or sellers. You can get information about the changing preferences of your customers and businesses.
International trade is risky. Bangladesh trade data can help you mitigate the risks. Before taking any important business decision, analyze the data and ensure you have made the right decision. Bangladesh import data gives you access to the latest import rates in Bangladesh. The data can prevent costly errors that can result in delays or fines.
Analyzing Bangladesh Trade data we learn that total exports were 15.32% of the GDP, and total imports were 21.44% of the GDP. The trade deficit is when imports are more than exports. As evident from the figures above Bangladesh has a trade deficit.
As per Bangladesh trade data, from July 2020 to January 2021 Bangladesh had a trade deficit of 9.79 billion USD and had a deficit of 9.64 billion USD in the same period in the last financial year.
Cotton Import Data Bangladesh
Cotton was one of the top imports of Bangladesh. Textile is a major revenue earner for Bangladesh. Cotton import data Bangladesh for 2019-20 indicates Bangladesh imported 75 lakh tons of cotton. Imports in 2020-21 fell marginally to 71 lakh tons of cotton.
Cotton import data Bangladesh showed that imports continued through the pandemic. Sales were disrupted due to the lockdown in April and May last year and sales increased once the markets opened up.
Analyzing the average cotton imported from the cotton import data Bangladesh from July 1999 to March 2021 24,529 BDT million. The Bangladesh import data showed that the highest imports were all-time high was observed in March 2021 with Bangladesh importing cotton valued at 32,062.00 BDT million. The lowest imports were recorded in September 1999 at 850 BDT million.
We can learn the prevalent import duties from the cotton import data Bangladesh 10% import duty of yarn and 25% on fabric. But there are no duties on raw cotton.
Types of cotton imported according to Cotton import data Bangladesh
According to cotton import data in Bangladesh, the different subcategories of cotton imported by Bangladesh are Uncarded and uncombed cotton, woven fabric (with varying % of cotton), yarn, carded and combed cotton, and cotton sewing thread.
Top Importers from Cotton import data Bangladesh
We have listed some of the top importers from the Cotton import data Bangladesh are:-
- Jahan Traders International
- Ibratas trading company
- FS International
- Abdul Azis Textile Mills Ltd
- Iris Fabric Ltd.