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
2020 Service Exports | Imports : $5.15B | $10.2B, 42 of 65 | 32 of 65
Overview In 2020, Bangladesh was the number 30 economy in the world in terms of GDP (current US$), the number 52 in total exports, the number 50 in total imports, the number 153 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.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*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, $15B
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).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Bangladesh Exports Services (2020): $5.15B
Bangladesh Imports Services (2020): $10.2B
In 2020, Bangladesh exported $5.15B worth of services. The top services exported by Bangladesh in 2020 were Other government services ($2.36B), Miscellaneous business, professional, and technical services ($859M), Construction in the compiling economy ($436M), Air transport ($401M), and Sea transport ($283M).
The top services imported by Bangladesh in 2020 were Sea transport ($6.78B), Construction in the compiling economy ($698M), Miscellaneous business, professional, and technical services ($578M), Air transport ($537M), and Other transport of which: Pipeline transport and electricity transmission ($488M).
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 Vending Machines (0.72), Eyewear Frames (0.52), Instructional Models (0.45), Rapeseed Oil (0.38), and Hydrogen peroxide (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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