Bangladesh–North Korea Bilateral Trade Statistics 2021–2022 Analysis
This article presents a cross-source analysis of bilateral trade statistics between Bangladesh and North Korea for 2021–2022. Data from UN Comtrade, the Bangladesh Export Promotion Bureau (EPB), and the Korea International Trade Association (KITA) are compared to identify export and import items, total trade volume, and structural shifts in the bilateral trade relationship. It serves as a baseline reference for objectively assessing actual trade flows between the two countries under the international sanctions regime on North Korea.
Bangladesh maintains official diplomatic relations with North Korea while adhering to the UN Security Council's sanctions resolutions against North Korea (UNSCR 2270, 2371, 2375, 2397, etc.). Bilateral trade remains negligible at around $1M per year, representing a statistically insignificant share of global trade. Nevertheless, continuous statistical tracking is important from the perspective of monitoring sanctions compliance and blocking potential circumvention channels.
In-Depth Analysis of Bangladesh-to-North Korea Export Items
Exports from Bangladesh to North Korea show a simple product mix centered on garments and textiles, with total annual shipments remaining at the negligible level of around $1M. North Korea's limited import capacity (shortage of foreign currency and severed banking channels) and the UN sanctions environment continue to structurally constrain trade expansion. The concentration of garments and textiles at over 90% of the total reflects Bangladesh's comparative advantage in these products.
| HS Code | Item | 2021 | 2022 | Change | Note |
|---|---|---|---|---|---|
| 52xx | Cotton fabrics/yarn | $420K | $380K | -9.5% | Not sanctions-listed |
| 61xx | Knitted apparel | $310K | $260K | -16.1% | Not sanctions-listed |
| 62xx | Woven apparel | $180K | $150K | -16.7% | Not sanctions-listed |
| 55xx | Man-made fiber/blended textiles | $95K | $80K | -15.8% | Not sanctions-listed |
| Other | Miscellaneous/consumer goods | $75K | $50K | -33.3% | Monitoring required |
| Total | $1,080K | $920K | -14.8% |
The broad-based decline seen in 2022 is analyzed as a combined result of North Korea's continued border lockdown policy following COVID-19, depletion of North Korea's foreign exchange reserves, and Bangladeshi exporters avoiding payment risk. No transactions involving items explicitly prohibited under UN sanctions resolutions (coal, steel, seafood, gold/silver/copper/zinc, etc.) are confirmed in official statistics.
Analysis of North Korea-to-Bangladesh Export Items
North Korea's exports to Bangladesh amount to a negligible $80–100K per year, consisting mainly of mineral products, processed fishery goods, and handicrafts that are not subject to sanctions. North Korean export data is unavailable from Pyongyang itself, so figures are estimated based on Bangladesh's import declaration data.
Data Source Comparison and Reliability Assessment
Sanctions Risk and Implications for Korean Companies
Korean companies using Bangladesh as an intermediate base face sanctions-related risks they need to be aware of. If products processed in Bangladesh are ultimately exported to North Korea, and Korean raw materials or intermediate goods are embedded in those products, sanctions violation liability could arise for the Korean companies involved.
| Year | BD to DPRK Exports | DPRK to BD Exports | Total | Key Variable |
|---|---|---|---|---|
| 2017 | $1,850K | $120K | $1,970K | UNSCR 2375 enacted |
| 2018 | $1,640K | $105K | $1,745K | Sanctions tightened |
| 2019 | $1,420K | $95K | $1,515K | North Korean economy deteriorated |
| 2020 | $420K | $35K | $455K | COVID-19 + DPRK border closure |
| 2021 | $1,080K | $85K | $1,165K | Partial resumption |
| 2022 | $920K | $80K | $1,000K | Continued declining trend |
Trade Trend Analysis and Long-Term Outlook
Bangladesh–North Korea trade is included in KOTRA Dhaka Trade Office's country-specific sanctions monitoring targets, with a quarterly reporting system to notify relevant authorities in the event of unusual transactions. It is important for Korean companies operating in Bangladesh to be aware of this sanctions compliance environment and maintain their own compliance frameworks.