Others include: Shrimps, jute goods (including Carpet), leather goods and tea. The World Bank has projected its economy to gradually recover from growing at 3.6% in 2021 and 5.1% in 2022 as private consumption, the main engine of its growth, is supported by normalizing . Market Value: 37,829 (millions) Last Updated: June, 2019, Parts For Fork Lifts, Bulldozers & Graders, Cel Phones, Video Recorders & Radio Transcievers, Electric Generating Sets & Rotary Converters, Automatic Regulating & Control Instruments, Non-Adhesive Plastic Plates, Sheets & Film, Oscilloscopes & Electrical Measuring Instruments, Electric Sound & Visual Signaling Apparatus, Woven Fabric -Under 85% Synthetic > 170G/M2, Transformers, Converters & Power Supplies, Instruments For Physical or Chemical Analysis, Woven Fabric -Over 85% Synthetic > 170G/M2, Wood, Continuously Shaped (Tongued or Grooved, Knives & Blades For Machines & Appliances, Vegetable Materials For Stuffing & Padding, Woven Fabric -Over 85% Synthetic < 170G/M2, Woven Fabrics of Artificial Staple Fibers, Gaskets & Similar Joints of Metal Sheeting. Foreign Direct Investment Attraction Events, Services for U.S. Companies New to Exporting, Services for U.S. Companies Currently Exporting, Leading Sectors for US Exports & Investments, Information and Communication Technology (ICT), Infrastructure Development and Engineering Services, Licensing Requirements for Professional Services. Bangladesh was ranked 52nd on the list of the world's top exporters. Located on the coast, Chattogram (previously called Chittagong), the second largest economic and financial hub, hosts the countrys major seaport, which handles more than 90 percent of the countrys international trade. Bangladesh is currently undergoing rapid development. TheInternational Trade Administration,U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. (Note: the Bangladesh fiscal year is from July 1 to June 20.). The EU is Bangladesh's main trading partner, accounting for around 19.5% of Bangladesh's total trade in 2020. Jute is traditionally used for the fiber of carpet backing, burlap bags, cheap paper, and various other purposes. Despite this growth, a fiscal policy priority will be domestic resource mobilization, as tax revenues were only 7.7 percent of GDP in fiscal year 2020-21, according to the Bangladesh Ministry of Finance. America will continue to be a major export destination for apparel items made in Bangladesh as Washington is . The economy of Bangladesh is characterised as a developing market economy. Fish feed, poultry feed and animal feed items (Per Bangladesh Import Policy Order 2009-2012): "In case of import of fish feed, poultry feed and animal feed items, the shipping documents must be accompanied by radioactivity-test reports from the competent authority of the exporting country and a certificate to the effect that the items are fit for consumption by fish . Garments including knit wear and hosiery account for 80% of exports revenue; others include: jute goods, home textile, footwear and frozen shrimps and fish. The top import categories in 2021 were: woven apparel ($3.89 billion), knit apparel ($2.06 billion), miscellaneous textile articles ($268.5 million), footwear ($230.2 million) and headgear ($168.6 million). India's exports to Bangladesh rose 46% on an annualised basis at $3.16 billion in January-March, securing it the fourth position after the US ($15.41 billion), China ($5.92 billion) and UAE ($5. About 60% of the textile is exported to Europe and about 40% to America. Share sensitive information only on official, secure websites. The economy is predicted to grow near 6% in 2010. Exports in Bangladesh averaged 43.66 BDT Billion from 1972 until 2018, reaching an all time high of 243.39 BDT Billion in May of 2018 and a record low of 0.05 BDT Billion in February of 1972.See more ..https://tradingeconomics.com/bangladesh/exports, Ready-made Garments (RMG) sector contributes about 80% of the total export earnings of Bangladesh and contributes about 10.5% to GDP. Exports structure from Bangladesh in 2015 represented by the following main commodity groups: 43% (13.7 billion US$): 62 - Articles of apparel and clothing accessories, not knitted or crocheted; 40% (12.7 billion US$): 61 - Articles of apparel and clothing accessories, knitted or crocheted; 2.57% (818 million US$): 63 - Other made up textile articles; sets; worn clothing and worn textile . Trade & Business. Bangladesh has a strong track record of growth and development, even in times of elevated global uncertainty. As of June 2020, the trade balance was -1.6 USD billion. Bangladesh is Canada's fourth largest pulse export market (e.g. Exports in Bangladesh increased to 243.39 BDT Billion in May from 230.71 BDT Billion in April of 2018. Vegetables, fruits, aromatic fine rice, tea and other agro-products are being exported regularly. Bangladesh has one of the lowest wage rates in the world, which has fueled an expanding industrial base led by the RMG industry. Using the most modern method of production, technology and world class raw materials, the finished products are of international standard and capable of competing with products of the renowned companies of the world. According to the latest Bangladesh Export Data of 2021, Bangladesh's goods exports are worth 42.62 Billion US Dollars. However, June recorded one of the lowest export receipts at $2.78 billion, which is also 5.27 percent less than that of the corresponding month in the previous fiscal year, according to Export Promotion Bureau (EPB) data released yesterday. Download Free Sample Bangladesh Export Data by HS Code, Country Name, Buyer Name, Product Name, Unit, Price, exporter Name, Port of Loading/Unloading, and Shipping information. Port Of Payra. USA.gov|FOIA|Privacy Program|EEO Policy|Disclaimer|Information Quality Guidelines |Accessibility, Official Website of the International Trade Administration, Comply with U.S. and Foreign Export Regulations. A link to set a new password will be sent to your email address. This gives Bangladesh advantage over other jute growers anywhere in the world. The government offers a range of investment incentives under its industrial policy and export-oriented growth strategy. . The top export categories from the United States to Bangladesh in 2017 were: oil and seeds ($395 million), textile fibers ($285 million), metalliferous ores ($180 million), cereals ($99 million), and animal fodder ($81 million). Official websites use .gov Bangladesh main exports partners are United States (23% of total), Germany, United Kingdom, France, Japan and India. The top exporting destination of Bangladeshi products is European Union. Exports in Bangladesh increased to 243.39 BDT Billion in May from 230.71 BDT Billion in April of 2018. We provide accurate quarterly, monthly, and year-wise Bangladesh export reports that give you statistical insights into the Bangladesh Market. Major Exportable Products of Bangladesh Bangladesh Exports 1972-2018. The economy of Bangladesh was once riding on jute, its major produce. Planned culture of shrimp and fish has been encouraged in the country through the private sector with adequate financial and technical support of the government. Facing a Foreign Trade AD/CVD or Safeguard Investigation? Bangladesh is the eighth most populous country in the world, and the most densely populated other than city states. U.S. goods exports to Bangladesh totaled $2.35 billion while goods imports totaled $8.3 billion, resulting in a U.S. goods trade deficit with Bangladesh of $5.95 billion in 2021. See more ..http://www.projectsprofile.com/posts/related_three.html, In the recent years, shipbuilding has become a major promising industry in Bangladesh with great export potentials. Target has been set to earn US$ 1b annually from software export by next 5 years. Bangladesh's inflation rates forecasted at 6.2% in 2022 and 6.7% in 2023 - ADO 2022 Update. Bangladesh confirmed in 2021 it will graduate from the status of a Least Developed Country (LDC) in 2026 with, according to a World Bank estimate, a Gross Domestic Product (GDP) of per capita of $2,503 in 2021. Bangladesh - Economic Indicators. The financial sector will also need to address the persistent problem of state-controlled banks high balance of non-performing loans (NPL). Between 2017 and 2020, EU-28 imports from Bangladesh reached on average 14.8 . Many manufacturers are producing various types of high quality leather items like: shoes, moccasins, travel goods, suitcases, briefcases and fashion accessories, belts, wallets, hand bags, case holders, etc for overseas markets. In 2017-18, Bangladesh exported goods worth $36.66 billion. You will find more detailed statistics of Bangladeshs major exports by HS Code, Total Export Value, and Total Export Share in the chart given below: Bangladesh Customs Shipment Data suggests that the United States and Japan are the largest importers of Bangladesh goods. Bangladesh's major export . Bangladesh imported an estimated US$69.8 billion worth of goods from around the globe in 2021, up by 38.6% since 2017 and up by 39.3% from 2020 to 2021. EU exports to Bangladesh are dominated by machinery and transport equipment. Major exports include garments and knitwear, agricultural products, seafood, jute, and leather. Membership Certificate Giving Ceremony (BD-2022), USBCCI Business Expo-2022 Organized By USBCCI, Receiving the U.S. Highest Civilian Honor Award 2022, Membership Certificate Giving Ceremony 2022, USBCCI Womens Entrepreneur Awards 2021, Seminar on Foreign Finance and Investment 2021, https://tradingeconomics.com/bangladesh/exports, http://textilelearner.blogspot.com/2012/11/present-conditionsituation-of-ready.html, http://www.textileexcellence.com/news/details/2360/bangladesh-home-textile-exports-to-eu-on-the-rise, http://www.theindependentbd.com/printversion/details/112906, http://www.daily-sun.com/home/printnews/209439, http://www.nationsencyclopedia.com/economies/Asia-and-the-Pacific/Bangladesh-AGRICULTURE.html, https://www.sciencedirect.com/science/article/pii/S2468550X16300260, http://www.projectsprofile.com/info/potential_one.html, https://www.thedailystar.net/business/pharma-sector-grow-15pc-year-study-1429024, http://www.thepages.com.bd/2017/03/20/cosmetics-toiletries-industry-major-site-industrial-development-anika-fowzia/, http://www.projectsprofile.com/posts/related_three.html, https://www.dhakatribune.com/business/2018/05/23/bangladesh-s-shipbuilding-industry-how-breakers-turned-into-builders, https://www.researchgate.net/publication/256020781_Electrical_Sector_of_Bangladesh_Problems_Prospects. Here we have presented the Top Suppliers List of Bangladesh based on our latest Bangladesh Custom Import Data.. All Right Reserved by Exim Trade Data | Copyright @2021-2022, Handbags With Outer Surface Of Leather, Or Composition Leather COW LEATHER SMALL MOBILE BAG&ROUND CONE BAG&LADIES WALLET ETC. Through uncompromising resolve to stick to the use of the best raw jute, strict adherence to buyers needs and specifications, rigorous quality control and timely delivery, Bangladesh has earned international eminence as the principal source of high quality jute. This site contains PDF documents. The country's economy experienced vast improvement in the 1990s. In the future, Bangladesh can dominate the global market. HSN Code 52010000 : 52010000. HSN Code 52010020 : HS : cotton other than indian of . The top export categories (2-digit HS) in 2019 were: aircraft ($688 million), miscellaneous grain, seeds, fruit (soybeans) ($403 million), cotton ($389 million), iron and steel ($321 million), and machinery ($78 million). At present, Bangladesh exports a wide range of pharmaceutical products covering all major therapeutic classes to over 100 countries including highly regulated US and EU markets. During the July-March period of the 2021-22 fiscal year, the country's export earnings stood at $761.53 crore, up 50.37 percent more than the same period of last fiscal year. According to the latest Bangladesh Export Data of 2021, Bangladeshs goods exports are worth 42.62 Billion US Dollars. New Age, a Dhaka-based leading English language daily newspaper, is a major source of news of Bangladesh and international affairs Japan is the largest export market capturing 26.2 per cent of Bangladesh's furniture . The top export categories from the United States to Bangladesh in 2020 were: ferrous waste and scrap ($592.78 million), soybeans ($475.66 million), and cotton ($311.15 million). The fisheries products are the major export items in the trade. It is the major market for exports that contributes to 29 percent of its total exports. Agricultural holdings are small in the . In view of growing amount of export deals secured by local shipbuilding companies as well as the abundance in skilled workforce at low cost, experts suggest that Bangladesh could emerge as a major competitor in the global market of small to medium ocean-going vessels.See more..https://www.dhakatribune.com/business/2018/05/23/bangladesh-s-shipbuilding-industry-how-breakers-turned-into-builders, Electronic and electrical industry in Bangladesh is one of the fastest growing industries with immense potential. Bangladesh exports for 2021 was $44.39B, a 13.68% increase from 2020. Monday, October 31, 2022. The Government and the private sector are working together to set up export villages for the production of quality fruits and vegetables. For a long time, the country has focused on export-oriented industrialization, with the key export items being the export of garments, fish and seafood, leather goods, and jute among other items. Meanwhile, bicycle has emerged as one of the potential products in the Light Engineering sector in Bangladesh. See more http://www.theindependentbd.com/printversion/details/112906, Bangladesh is blessed with the favourable climate and the potentials to be the largest grower and exporter of the best quality jute, the golden fibre. Among all the top products exported from Bangladesh, Knitted Sweaters contribute to 5.63% of total trade value, equal to US$2,129,704 thousand. Overview. Bangladesh has few mineral resources, and the industry outside the clothing industry is poorly developed. As per WTO reports, it is the 137th largest economy. 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