Russia (RUS) and Bangladesh (BGD) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Bangladesh (BGD) Trade

2021

→

Exports $1.72BRnk 144 / 0

2021

→

Exports $1.27BRnk 5 / 0

2022

Economic Complexity (ECI) ECI 0.43Rnk 47 / 133

2022

Economic Complexity (ECI) ECI -0.82Rnk 101 / 133

2022

GDP$2.24TCURRENT US$
Rnk 8 / 186

2012-2022

GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186

2022

GDP$460BCURRENT US$
Rnk 34 / 186

2012-2022

GDP GROWTH245%CURRENT US$
Rnk 2 / 186

2022

GDP PC $15,345CURRENT US$
Rnk 63 / 186

2012-2022

GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

2022

GDP PC$2,688CURRENT US$
Rnk 136 / 186

2012-2022

GDP PC GROWTH207%CURRENT US$
Rnk 2 / 186

Image 1

Image by Sam Greenhalgh
Link: https://flic.kr/p/9qSwNm

Image 2

Image by Silver Blu3
Link: https://flic.kr/p/r4kEcS

Latest Trends
Historical Data
Potential Exports
Economic Complexity

About

Russia-Bangladesh Trade: In 2021, Russia exported $1.72B to Bangladesh. The main products that Russia exported to Bangladesh were N/A. Over the past 5 years the exports of Russia to Bangladesh have increased at an annualized rate of 25.2%, from $560M in 2016 to $1.72B in 2021.

In 2020, Russia exported services to Bangladesh worth $819M, with Construction services ($697M), Other business services ($113M), and Insurance services ($4.69M) being the largest in terms of value.

Bangladesh-Russia Trade: In 2021, Bangladesh exported $1.27B to Russia. The main products that Bangladesh exported to Russia were N/A. Over the past 5 years the exports of Bangladesh to Russia have increased at an annualized rate of 13%, from $690M in 2016 to $1.27B in 2021.

In 2021, Bangladesh did not export any services to Russia.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Bangladesh ranked 101 in the Economic Complexity Index (ECI -0.82), and 52 in total exports ($64.2B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $108M and imported $144M from Bangladesh, resulting in a negative trade balance of $36M. Between January 2021 and January 2022 the exports of Russia have increased by $82.5M (326%) from $25.3M to $108M, while imports increased by $63.6M (79.4%) from $80.1M to $144M.

Trade In January 2022, the top exports of Russia to Bangladesh were Wheat ($8.46M), Steam Boilers ($5.77M), Iron Structures ($1.82M), Valves ($1.62M), and Scrap Iron ($759k). In January 2022 the top imports of Russia from Bangladesh were Knit T-shirts ($12.8M), Knit Sweaters ($11.7M), Non-Knit Women's Suits ($9.82M), Non-Knit Men's Suits ($8.04M), and Other Knit Clothing Accessories ($4.88M).

Origins In January 2022 the exports of Russia were mainly from PERM TERRITORY ($45.6M), NIZHNY NOVGOROD REGION ($30.6M), ROSTOV REGION ($14.6M), MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($5M), and KRASNODAR TERRITORY ($4.6M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($105M), MOSCOW REGION ($28M), ST. PETERSBURG ($6.57M), ROSTOV REGION ($2.81M), and PRIMORYE TERRITORY ($219k).

Growth In January 2022, the increase in Russia's year-by-year exports to Bangladesh was explained primarily by an increase in product exports in Valves ($1.61M or 16.8k%), Low-voltage Protection Equipment ($453k or 26.5k%), and Large Iron Containers ($437k or 3.06k%). In January 2022, the increase in Russia's year-by-year imports from Bangladesh was explained primarily by an increase in product imports in Other Knit Clothing Accessories ($4.86M or 29.3k%), Knit Sweaters ($3.03M or 35.1%), and Knit Men's Undergarments ($1.98M or 211%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$82.5M(326%)

IMPORT GROWTH (January 2021 - January 2022)$63.6M(79.4%)

MAIN EXPORTER (January 2022)PERM TERRITORY$45.6M

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Bangladesh and Russia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2021, Russia exported $1.72B to Bangladesh. There were not main exports from Russia to Bangladesh in 2021. During the last 5 years the exports of Russia to Bangladesh have increased at an annualized rate of 25.2%, from $560M in 2016 to $1.72B in 2021.

In 2016, Bangladesh exported $1.27B to Russia. There were not main exports from Bangladesh to Russia in 2016. During the last 5 years the exports of Bangladesh to Russia have increased at an annualized rate of 13%, from $690M in 2021 to $1.27B in 2016.

Exports from Russia () to Bangladesh () (2021)

Exports from Bangladesh () to Russia () (2021)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Bangladesh
Top DestinationUnited States$11.7B

This map shows whether countries import more from Russia or Bangladesh. Each country is colored based on the difference in imports they receive from Russia and Bangladesh or the difference in the growth in imports.

In 2022, countries that imported more from Russia than Bangladesh included China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2022, countries that imported more from Bangladesh than Russia included Canada ($2.02B), Australia ($1.07B), and Denmark ($1.28B).

Difference in imports from Bangladesh () and Russia () (2022)

Comparative Advantage Russia - Bangladesh

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Russia and Bangladesh by product, considering products traded by both, Russia and Bangladesh.

During 2021, Russia had a large net trade with Bangladesh in the exports of .

During 2016, Bangladesh had a large net trade with Russia in the exports of N/A.

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Bangladesh+$14.5kRefined Petroleum

Top Product Potential Bangladesh Russia+$7.99kNon-Knit Women's Suits

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Russia and Bangladesh. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Bangladesh. Similarly, a dot/product with the flag of Bangladesh indicates it has a comparative advantage over Russia.

Product Space of Russia () and Bangladesh () (2021)

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