Overview of 4-Digit MTI Export Statistics
This article analyzes Korea's exports to Bangladesh from 2022 through November 2023 using 4-digit MTI (Ministry of Trade and Industry) codes. The 4-digit MTI framework is a broad industrial classification system that helps explain export structure in relation to Korea's industrial policy.
While HS codes are centered on product items, MTI codes are industry-oriented. That makes them more useful for policy formulation, industrial promotion, and export strategy. The analysis below reviews export performance and structural shifts by industry.
23 months
Period Covered
2022.1-2023.11
$1.7B+
Total Exports
cumulative
40+
4-Digit MTI Groups
industry groups
Textile Fabrics
Top Industry
MTI 4311
Steel Plates
No. 2 Industry
MTI 2111
Petrochemicals
No. 3 Industry
MTI 1311
8+
Growth Industries
+15% or more
Ongoing
Structural Shift
chemicals up, textiles down
Export Ranking by Industry
Korea-Bangladesh Exports by 4-Digit MTI Industry (2022-2023.11)
| Rank | 4-Digit MTI | Industry | Exports | Share | YoY |
|---|---|---|---|---|---|
| 1 | 4311 | Textile Fabrics | $440M | 26% | +3% |
| 2 | 2111 | Steel Plates | $230M | 14% | +8% |
| 3 | 1311 | Basic Petrochemicals | $200M | 12% | +18% |
| 4 | 4131 | Industrial Machinery | $150M | 9% | +10% |
| 5 | 4121 | Electrical Equipment | $140M | 8% | +15% |
| 6 | 2131 | Metal Products | $90M | 5% | +11% |
| 7 | 1321 | Fine Chemicals | $80M | 5% | +22% |
| 8 | 4312 | Textile Yarns | $70M | 4% | -5% |
| 9 | 4141 | Auto Parts | $50M | 3% | +20% |
| 10 | 4161 | Home Appliances and Electronics | $45M | 3% | +12% |
Industrial Structure Shift
Growth Industries (Rising Share)
Petrochemicals12%, +18% (PP, PE, synthetic rubber)
Fine Chemicals5%, +22% (dyes, coatings, adhesives)
Auto Parts3%, +20% (parts, tires)
Electrical Equipment8%, +15% (control panels, converters)
Stable or Declining Industries
Textile Fabrics26%, +3% (stable, slight share decline)
Steel Plates14%, +8% (stable)
Textile Yarns4%, -5% (local substitution)
General Machinery2%, -3% (intensifying competition)
Policy and Industry Implications
01
Strategy to Expand Petrochemical Exports
Exports under MTI 1311 (basic petrochemical products) have grown 18% annually, making the segment the third-largest industry. This reflects expansion in Bangladesh's plastics and rubber processing industries, with PP, PE, synthetic rubber, and synthetic resin products at the center. Korean petrochemical companies should strengthen direct marketing in Bangladesh and pursue long-term supply contracts with local processors.
02
Target Fine Chemical Niche Markets
Exports under MTI 1321 (fine chemicals) recorded the highest growth rate at 22% annually. Reactive dyes, leather-processing chemicals, construction adhesives, and coatings are major items. Demand is increasing as Bangladesh's apparel, leather, and construction sectors move up the value chain.
03
Auto Parts Export Opportunity
Exports under MTI 4141 (auto parts) have risen 20% annually, positioning the segment as an emerging export industry. Demand for bearings, filters, electrical components, and tires is increasing rapidly with growth in Bangladesh's motorcycle, three-wheeler, and commercial vehicle markets. Korean auto parts suppliers should be supported in entering the market.
04
Move Textiles Up the Value Chain
MTI 4311 (textile fabrics) remains the largest industry, but growth has slowed to 3%. Commodity fabrics face stronger competition from local production and Chinese suppliers. A shift toward higher-value products such as functional fabrics, eco-friendly textiles including recycled polyester, and smart textiles is increasingly necessary.
How to Use MTI Analysis
Workflow for 4-Digit MTI Export Analysis
MTI Classification
broad industry grouping
→↓
Rank and Share
understand the structure
→↓
Structural Change
analyze trends
→↓
Policy Implications
derive strategy
→↓
Export Execution
industry-specific action
A 4-digit MTI analysis helps identify how the industrial structure of Korea-Bangladesh trade is evolving. It also supports more targeted export expansion strategies centered on high-growth industries such as petrochemicals, fine chemicals, and auto parts.
Korea-Bangladesh Export Statistics by 4-Digit HS Code, 2022-2023.11Review export performance using the HS 4-digit product classification
Korea-Bangladesh Export Statistics by 6-Digit HS Code, 2022-2023Explore export trends by detailed HS 6-digit product categories
export statisticsMTI4-digit2022-202311industrial groups
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