Bangladesh 2020 Trade Statistics Overview
In FY2019-20, Bangladesh recorded total trade of $78.5B ($33.7B in exports and $44.8B in imports), with exports down 17% and imports down 8% from the prior year due to the COVID-19 shock. RMG garments accounted for 83% of exports, while imports were dominated by raw materials, machinery, and crude oil. Korea-Bangladesh trade reached $1.8B ($1.3B in Korean exports, $0.5B in Bangladesh exports), placing Korea as Bangladesh's eighth-largest trade partner.
Export Structure Analysis
Bangladesh exports remain highly concentrated in RMG, with the top five products representing 92% of total exports. Main destinations were the EU (58%), the United States (17%), and the United Kingdom (10%), while Korea's share stood at 1.5%.
| Product | Amount | Share | YoY | Main Markets |
|---|---|---|---|---|
| Knitted apparel | $15.1B | 45% | -12% | EU, United States |
| Woven apparel | $12.8B | 38% | -20% | EU, United Kingdom |
| Home textiles | $1.1B | 3% | -8% | EU, United States |
| Seafood | $0.6B | 2% | -15% | Japan, EU |
| Jute products | $0.5B | 2% | +5% | India, China |
Import Structure and Korean Exports
Imports were concentrated in raw materials (cotton and chemicals), machinery and equipment, oil and gas, and food. Of Korea's $1.3B export to Bangladesh, blended yarn textiles ($350M), steel ($250M), electrical-electronics ($200M), and machinery ($150M) were the major categories.
Top Trade Partners
| Rank | Country | Exports | Imports | Total Trade |
|---|---|---|---|---|
| 1 | China | $0.8B | $13.5B | $14.3B |
| 2 | United States | $5.7B | $1.5B | $7.2B |
| 3 | India | $1.1B | $5.8B | $6.9B |
| 4 | Germany | $5.6B | $0.5B | $6.1B |
| 5 | United Kingdom | $3.4B | $0.3B | $3.7B |
| 6 | Japan | $1.0B | $1.8B | $2.8B |
| 7 | Singapore | $0.3B | $2.2B | $2.5B |
| 8 | Republic of Korea | $0.5B | $1.3B | $1.8B |