Trade Overview Through May 2022
Cumulative Korea-Bangladesh trade for January to May 2022 reached $742M, up 11.5% from the same period a year earlier. Exports rose 13.2% to $481M, while imports increased 8.4% to $261M. As Bangladesh's economic recovery continued, demand for Korean raw materials and industrial goods remained firm, but early signs of tighter import controls by the Bangladesh Bank began to surface from May onward.
Monthly Export Trend
Monthly export performance from January through May shows a peak of $108M in March, followed by a mild pullback in April and May. This appears to have been driven less by global supply chain disruption and more by delays in opening LCs (letters of credit) in the Bangladesh market.
| Month | Exports | Imports | Trade Balance | Total Trade |
|---|---|---|---|---|
| January | $95M | $42M | +$53M | $137M |
| February | $103M | $45M | +$58M | $148M |
| March | $108M | $52M | +$56M | $160M |
| April | $92M | $60M | +$32M | $152M |
| May | $83M | $62M | +$21M | $145M |
| Cumulative | $481M | $261M | +$220M | $742M |
Shifts in the Export Product Mix
As of the cumulative May tally, synthetic resins remained the leading export item, while steel plates posted particularly strong growth. A key driver was increased demand for construction materials following Bangladesh's expanded infrastructure investment policy.