2023
Exports
$46.2MWorld Rnk 113 / 219
Flag Rnk 31 / 96
2023
PRODUCT COMPLEXITY IN Iron & steel
1.66Rnk 26 / 1025
2023
Imports
$3.38BWorld Rnk 32 / 224
Flag Rnk 5 / 96
2023
ECONOMIC COMPLEXITY of Bangladesh
-1.03Rnk 113 / 132

About

Exports In 2023, Bangladesh exported $46.2M in Iron & steel, making it the 113th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 31st most exported product in Bangladesh. The main destination of Iron & steel exports from Bangladesh are: India ($38.9M), Malaysia ($5.72M), Japan ($846k), China ($481k), and Chinese Taipei ($233k).

The fastest growing export markets for Iron & steel of Bangladesh between 2022 and 2023 were China ($480k), Austria ($36k), and Kenya ($2.65k).

Imports In 2023, Bangladesh imported $3.38B in Iron & steel, becoming the 32nd largest importer of Iron & steel in the world. At the same year, Iron & steel was the 5th most imported product in Bangladesh. Bangladesh imports Iron & steel primarily from: China ($710M), United States ($580M), Japan ($510M), India ($287M), and Australia ($262M).

The fastest growing import markets in Iron & steel for Bangladesh between 2022 and 2023 were Singapore ($84.6M), Australia ($74.4M), and Thailand ($31M).

COMPANIES In 2024, leading companies such as Kontoor Brands (2), PVH (Phillips-Van Heusen Corporation) (1), and Halyard Health (1) were at the forefront of shipping Iron & steel from Bangladesh to the United States.

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron & steel. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$46.2M
IMPORTS (2023)$3.38B
NET TRADE (2023)-$3.33B

In 2023, Bangladesh exported $46.2M in Iron & steel. The main destinations of Bangladesh exports on Iron & steel were India ($38.9M), Malaysia ($5.72M), Japan ($846k), China ($481k), and Chinese Taipei ($233k).

In 2023, Bangladesh imported $3.38B in Iron & steel, mainly from China ($710M), United States ($580M), Japan ($510M), India ($287M), and Australia ($262M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Bangladesh WERE (2022 - 2023):
China$480k (104k%)
Austria$36k (677%)
Kenya$2.65k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Bangladesh WERE (2022 - 2023):
India-$14.6M (-27.3%)
Vietnam-$8.83M (-100%)
Chinese Taipei-$5.59M (-96%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Bangladesh's main exporting competitors in Iron & steel were:
China $66.2B
Germany $32.6B
Japan $31.6B
In 2023, Bangladesh's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $43M
TOP IMPORT POTENTIALChina+ $158M

Iron & steel’s highest export potential is India. With an export gap of $43M.   Iron & steel’s highest import potential is China with an import gap of $158M.

See methodology.

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