Bangladesh2021 Economic Complexity Trade : -0.85, Rank 101 of 131
2021 Economic Complexity Technology : -1.35, Rank 86 of 96
2021 Economic Complexity Research : -0.15, Rank 74 of 140
2021 Product Exports | Imports: $51.8B | $76.6B, 56 of 226 | 48 of 226
2021 Per Capita Product Exports | Imports: $311 | $460, 174 of 219 | 183 of 219
Overview In 2021, Bangladesh was the number 32 economy in the world in terms of GDP (current US$), the number 56 in total exports, the number 48 in total imports, the number 133 economy in terms of GDP per capita (current US$) and the number 101 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Bangladesh are Knit T-shirts ($7.06B), Non-Knit Men's Suits ($6.68B), Knit Sweaters ($6.32B), Non-Knit Women's Suits ($5.41B), and Knit Women's Suits ($3.54B), exporting mostly to United States ($8.72B), Germany ($8.36B), Spain ($3.6B), United Kingdom ($3.29B), and Poland ($2.94B).
In 2021, Bangladesh was the world's biggest exporter of Non-Knit Men's Shirts ($1.72B), Jute Yarn ($550M), Jute and Other Textile Fibers ($161M), and Textile Scraps ($123M)
Imports The top imports of Bangladesh are Refined Petroleum ($5.48B), Raw Cotton ($2.8B), Non-Retail Pure Cotton Yarn ($2.26B), Wheat ($1.92B), and Light Rubberized Knitted Fabric ($1.83B), importing mostly from China ($24.1B), India ($14.1B), Singapore ($3.53B), Indonesia ($2.92B), and United States ($2.3B).
In 2021, Bangladesh was the world's biggest importer of Heavy Pure Woven Cotton ($1.42B), Heavy Mixed Woven Cotton ($1.06B), Light Pure Woven Cotton ($787M), Pile Fabric ($535M), and Non-Retail Synthetic Staple Fibers Yarn ($523M)
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 (2021): Knit T-shirts, $7.06B
Top Destination (2021): United States, $8.72B
In 2021, Bangladesh exported a total of $51.8B, making it the number 56 exporter in the world. During the last five reported years the exports of Bangladesh have changed by $14B from $37.8B in 2016 to $51.8B in 2021.
The most recent exports are led by Knit T-shirts ($7.06B), Non-Knit Men's Suits ($6.68B), Knit Sweaters ($6.32B), Non-Knit Women's Suits ($5.41B), and Knit Women's Suits ($3.54B). The most common destination for the exports of Bangladesh are United States ($8.72B), Germany ($8.36B), Spain ($3.6B), United Kingdom ($3.29B), and Poland ($2.94B).
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 (364), Textile Scraps (74.6), Non-Knit Men's Shirts (67.6), Non-Knit Babies' Garments (64.9), and Non-Knit Men's Suits (61.8). 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 Carboxyimide-function compounds (including saccharin and its salts) and imine-function compounds (1.31), Frames and mountings; for spectacles, goggles or the like, and parts (0.73), Automatic goods-vending machines (e.g. postage stamp, cigarette, food or beverage machines), including money-changing machines (0.66), Hydrogen peroxide; whether or not solidified with urea (0.4), and Instruments, apparatus and models, designed for demonstrational purposes (in education or exhibitions), unsuitable for other uses (0.3). 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, were Nutmeg, mace and cardamons (0.15), Pepper (0.14), Insect Resins (0.14), Cassava (0.14), and Tea (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 101st 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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