Observatory of Economic Complexity

Flag Bangladesh

Econ Complexity (2018): -1.42, Rank 127 of 137

Product Exports (2018): $44.9B, Rank 54 of 222

Exports Per Capita (2018): $278, Rank 100 of 219

Product Imports (2018): $54B, Rank 50 of 221

Imports Per Capita (2018): $335, Rank 105 of 219

Service Exports (2018): $4.98B, Rank 42 of 88

Service Imports (2018): $10.7B, Rank 32 of 88

GDP (2018): $274B, CURRENT US$
Rank 42 of 196

GDP growth (2008 - 2018): 199%, CURRENT US$
Rank 5 of 196

GDP PC (2018): $1,698, CURRENT US$
Rank 156 of 196

GDP PC GROWTH (2008 - 2018): 167%, CURRENT US$
Rank 4 of 196

About

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Overview: In 2018 Bangladesh was the number 42 economy in the world in terms of GDP (current US$), the number 54 in total exports, the number 50 in total imports, and the number 127 most complex economy according to the Economic Complexity Index (ECI). In 2018, Bangladesh exported $44.9B and imported $54B, resulting in a negative trade balance of -$9.12B. In 2018, Bangladesh's exports per capita were $278 and its imports per capita were $335.

Trade: The top exports of Bangladesh are Non-Knit Men's Suits ($6.89B), Knit T-shirts ($6.76B), Knit Sweaters ($5.45B), Non-Knit Women's Suits ($4.91B), and Non-Knit Men's Shirts ($2.44B). The top imports of Bangladesh are Refined Petroleum ($4.14B), Raw Cotton ($1.93B), Heavy Pure Woven Cotton ($1.38B), Light Pure Woven Cotton ($1.11B), and Non-Retail Pure Cotton Yarn ($1.1B).

Destinations: Bangladesh exports mostly to Germany ($6.88B), United States ($6.23B), United Kingdom ($3.7B), Spain ($3.21B), and France ($3.06B), and imports mostly from China ($17.7B), India ($8.54B), Singapore ($3.34B), Malaysia ($2.09B), and Indonesia ($1.89B).

Location: Bangladesh borders Burma and India by land.

Product Trade

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Product Exports

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Depth
Value

Top Export (2018): Non-Knit Men's Suits, $6.89B

Top Destination (2018): Germany, $6.88B

In 2018 Bangladesh exported a total of $44.9B, making it the number 54 exporter in the world. During the last five reported years the exports of Bangladesh have changed by $13.9B from $30.9B in 2013 to $44.9B in 2018.

The most recent exports are led by Non-Knit Men's Suits ($6.89B), Knit T-shirts ($6.76B), Knit Sweaters ($5.45B), Non-Knit Women's Suits ($4.91B), and Non-Knit Men's Shirts ($2.44B). The most common destination for the exports of Bangladesh are Germany ($6.88B), United States ($6.23B), United Kingdom ($3.7B), Spain ($3.21B), and France ($3.06B).

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Product Imports

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Depth
Value

Top Import (2018): Refined Petroleum, $4.14B

Top Origin (2018): China, $17.7B

In 2018 Bangladesh imported $54B, making it the number 50 trade destination in the world. During the last five reported years the imports of Bangladesh changed by $20.9B from $33.1B in 2013 to $54B in 2018.

The most recent imports of Bangladesh are led by Refined Petroleum ($4.14B), Raw Cotton ($1.93B), Heavy Pure Woven Cotton ($1.38B), Light Pure Woven Cotton ($1.11B), and Non-Retail Pure Cotton Yarn ($1.1B). The most common import partners for Bangladesh are China ($17.7B), India ($8.54B), Singapore ($3.34B), Malaysia ($2.09B), and Indonesia ($1.89B).

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Market Growth

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Service Trade

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Service Trade

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Bangladesh Exports Services (2018): $4.98B

Bangladesh Imports Services (2018): $10.7B

In 2018, Bangladesh exported $4.98B worth of services. The top services exported by Bangladesh in 2018 were Other government services ($2.12B), Miscellaneous business, professional, and technical services ($834M), Telecommunications services ($366M), Personal travel ($352M), and Air transport ($350M).

The top services imported by Bangladesh in 2018 were Sea transport ($7.16B), Air transport ($814M), Personal travel ($704M), Miscellaneous business, professional, and technical services ($685M), and Construction in the compiling economy ($369M).

Forecasts

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Trade Forecasts

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This section shows forecasts for total product exports and imports for Bangladesh. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Bangladesh are Abrasive powder, grain on paper or paperboard support (25%) and Abrasive powderor grain on woven textile support (25%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Bangladesh are:
93: Bangladesh Free Trade Agreement duty rates for India, Pakistan and Sri Lanka under the South Asian Free Trade Area (SAFTA)
136: Most Favoured Nation duty rate treatement
157: Preferential tariff for (SAARC) South Asian Association for Regional Cooperation countries Least developed countries
343: Preferential trade agreement (APTA) Asia-Pacific Trade Agreement or (Previously named:Bangkok Agreement)
366: South Asian Association for Regional Cooperation (SAARC) Preferential Trading Arragement (SAPTA)

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Bangladesh's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨95th to the 127th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Bangladesh has a high level of specialization in Non-Knit Men's Shirts (68), Non-Knit Babies' Garments (67.6), Knit T-shirts (59.5), Non-Knit Men's Suits (58.1), and Knit Men's Shirts (55.2). Specialization is measured using RCA, an index that takes the ratio between Bangladesh observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Bangladesh according to the product complexity index (PCI) are Automatic goods vending, money changing machines, etc (0.64), Nickel waste or scrap (0.21), Frames and mountings for spectacles, goggles, etc (0.2), Bicycles, other cycles, not motorized (0.077), and Tailors dummies, display dummies and automata (-0.018). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Bangladesh according to the relatedness index, are Rubber (0.13), Tea (0.13), Pepper (0.12), Non-Knit Gloves (0.12), and Footwear Parts (0.12). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bangladesh is not specialized in.

Product Space

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The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth
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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

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