Bangladesh2020 Economic Complexity : -1.19, Rank 111 of 127
2020 Product Exports | Imports: $41.2B | $48.5B, 52 of 226 | 50 of 226
2020 Per Capita Product Exports | Imports: $250 | $295, 171 of 219 | 190 of 219
2019 Service Exports | Imports : $6.06B | $9.53B, 35 of 69 | 31 of 69
Overview In 2020 Bangladesh was the number 39 economy in the world in terms of GDP (current US$), the number 52 in total exports, the number 50 in total imports, the number 149 economy in terms of GDP per capita (current US$) and the number 111 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Bangladesh are Non-Knit Men's Suits ($5.75B), Knit T-shirts ($5.74B), Knit Sweaters ($4.91B), Non-Knit Women's Suits ($4.63B), and Knit Women's Suits ($2.45B), exporting mostly to Germany ($6.59B), United States ($6.25B), United Kingdom ($3.05B), Spain ($2.95B), and Poland ($2.27B).
In 2020, Bangladesh was the world's biggest exporter of Non-Knit Men's Shirts ($1.87B), Jute Yarn ($525M), Jute and Other Textile Fibers ($112M), and Textile Scraps ($87.1M)
Imports The top imports of Bangladesh are Refined Petroleum ($2.64B), Raw Cotton ($1.8B), Wheat ($1.28B), Light Rubberized Knitted Fabric ($1.09B), and Heavy Pure Woven Cotton ($975M), importing mostly from China ($15B), India ($7.91B), Singapore ($2.29B), United States ($1.79B), and Indonesia ($1.69B).
In 2020, Bangladesh was the world's biggest importer of Heavy Pure Woven Cotton ($975M), Heavy Mixed Woven Cotton ($692M), Light Pure Woven Cotton ($615M), Non-Retail Synthetic Staple Fibers Yarn ($306M), and Woven Fabric of Synthetic Staple Fibers ($194M)
The following section uses the most recent trade data from partners of Bangladesh.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Non-Knit Men's Suits, $5.75B
Top Destination (2020): Germany, $6.59B
In 2020, Bangladesh exported a total of $41.2B, making it the number 52 exporter in the world. During the last five reported years the exports of Bangladesh have changed by $4.41B from $36.8B in 2015 to $41.2B in 2020.
The most recent exports are led by Non-Knit Men's Suits ($5.75B), Knit T-shirts ($5.74B), Knit Sweaters ($4.91B), Non-Knit Women's Suits ($4.63B), and Knit Women's Suits ($2.45B). The most common destination for the exports of Bangladesh are Germany ($6.59B), United States ($6.25B), United Kingdom ($3.05B), Spain ($2.95B), and Poland ($2.27B).
Top Import (2020): Refined Petroleum, $2.64B
Top Origin (2020): China, $15B
In 2020 Bangladesh imported $48.5B, making it the number 50 trade destination in the world. During the last five reported years the imports of Bangladesh changed by -$1.98B from $50.5B in 2015 to $48.5B in 2020.
The most recent imports of Bangladesh are led by Refined Petroleum ($2.64B), Raw Cotton ($1.8B), Wheat ($1.28B), Light Rubberized Knitted Fabric ($1.09B), and Heavy Pure Woven Cotton ($975M). The most common import partners for Bangladesh are China ($15B), India ($7.91B), Singapore ($2.29B), United States ($1.79B), and Indonesia ($1.69B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Bangladesh Exports Services (2019): $6.06B
Bangladesh Imports Services (2019): $9.53B
In 2019, Bangladesh exported $6.06B worth of services. The top services exported by Bangladesh in 2019 were Government services, n.i.e. ($3.04B), Other business services ($949M), Transportation ($622M), Computer and information services ($512M), and Personal travel ($387M).
The top services imported by Bangladesh in 2019 were Transportation ($5.69B), Financial services ($927M), Other business services ($906M), Personal travel ($861M), and Construction services ($504M).
The top product import tariffs by their MFN Ad Valorem value for Bangladesh are Acetic acid (25%)and Acrylic & vinyl polymer based paint, varnish, in wate (25%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Bangladesh are:
Bangladesh has a high level of specialization in Jute Yarn (374), Non-Knit Men's Shirts (75.2), Non-Knit Babies' Garments (68.2), Textile Scraps (67.1), and Non-Knit Men's Suits (60.9). Specialization is measured using RCA, an index that takes the ratio between Bangladesh observed and expected exports in each product.
The highest complexity exports of Bangladesh according to the product complexity index (PCI) are Automatic goods vending, money changing machines, etc (0.72), Frames and mountings for spectacles, goggles, etc (0.52), Instruments, apparatus and models, for demonstration (0.45), Rape, colza, mustard oil, fractions, simply refined (0.38), and Hydrogen peroxide, (including solidified with urea) (0.26). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Bangladesh according to the relatedness index, are Other Cloth Articles (0.18), Non-Retail Pure Cotton Yarn (0.15), Nutmeg, mace and cardamons (0.14), Tea (0.14), and Pepper (0.14). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bangladesh is not specialized in.
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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Bangladesh's economy has become relatively less complex, moving from the 86th to the 111th 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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