Bangladesh Import-Export Data and Analysis
20 Jun, 2022
In recent years, Bangladesh’s economy has become synonymous with its bustling ready-made garments (RMG) industry. The study of Bangladesh’s import export data starts with the RMG manufacturing industry. From comprising just 3% of Bangladesh’s exports in the 1980s, the sector now contributes to about 80% of the nation’s exports. Bangladesh’s emergence came at a time when apparel companies sought alternatives to the Chinese apparel industry that had a case of over-dependence.
Bangladesh has proven to be an exemplary substitute. Top fashion companies from around the world have rushed into Bangladesh. They have harnessed the nation’s large workforce, low wages, and export-friendly policies. In turn, Bangladesh achieved the highest combined economic growth from 2010 to 2020 among all other nations.
Its government and non-government organizations have been hailed for their work in poverty reduction. The increase in income, giving rise to imports, has also helped the consumer economy to flourish. The future holds more exciting things for the economy. Bangladesh stands to become a developed country less than two decades from now.
Bangladesh Export Data and Analysis
The Trade Vision has compiled an extensive bank of Bangladesh’s export data. Your business can only thrive with access to critical information such as the size, FOB value, and frequency of competitors' shipments. Our extensive market intelligence reports give you a clear picture of the trading scenario in Bangladesh. These reports can help you move your manufacturing operations to Bangladesh without worry.
As mentioned before, four-fifths of Bangladesh’s exports come from the RMG sector. It is also the world’s leading exporter of items such as non-knit men’s shirts and jute yarn.
Leading Export Countries
1. Germany ($6.59 billion)
2. United States ($6.25 billion)
3. United Kingdom ($3.05 billion)
4. Spain ($2.95 billion)
5. Poland ($2.27 billion)
Top Export Commodities
1. Non-Knit Men's Suits ($5.75 billion)
2. Knit T-shirts ($5.74 billion)
3. Knit Sweaters ($4.91 billion)
4. Non-Knit Women's Suits ($4.63 billion)
5. Knit Women's Suits ($2.45 billion)
Bangladesh Import Data and Analysis
Bangladesh has a great demographic dividend. The consumer industry is bound to grow further in the future as more young people join the workforce. While the consumer economy booms, exporters around the world must look to enhance their presence in Bangladesh. Currently, Bangladesh’s top imports are various raw materials for the garments manufacturing industry.
Agriculture-wise, the nation has significant land under cultivation and a decent output. But regular floods hurt Bangladesh’s grains stockpile year after year. There is, therefore, an opportunity for wheat exporters to send their produce to Bangladesh. The Trade Vision gives you a deep analysis of import movements on Bangladesh’s shores. Attain a comprehensive understanding of the country’s import technicalities. Access this free version of Bangladesh’s import data.
Leading Import Countries
1. China ($15 billion)
2. India ($7.91 billion)
3. Singapore ($2.29 billion)
4. United States ($1.79 billion)
5. Indonesia ($1.69 billion)
Top Import Commodities
1. Refined Petroleum ($2.64 billion)
2. Raw Cotton ($1.8 billion)
3. Wheat ($1.28 billion)
4. Light Rubberized Knitted Fabric ($1.09 billion)
5. Heavy Pure Woven Cotton ($975 million)
Bangladesh: The Economic Future
In an exemplary show of developmental resilience, Bangladesh has uplifted its economy from dire straits to exceptional success within a span of a few decades. The residents enjoy a standard of living that is better than most of its neighboring countries. Bangladesh ranks highly on the Human Development Index. Once the government regularises the factories and unclogs the pressure on its cities, Bangladesh will achieve further growth that shall be endless and equitable.
The Trade Vision is an international trade research company. We provide you with actionable analytics that steers clear of the noise. Contact us now at mywishplan@thetradevision.com or call +1(307)7573116, to get started.
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