Korea-Bangladesh Trade Overview
In 2020, bilateral Korea-Bangladesh trade reached about $1.8 billion, with Korean exports to Bangladesh at $1.2 billion and imports from Bangladesh at $0.6 billion. Korea ranked 11th among Bangladesh trading partners, while Bangladesh ranked 45th among Korea's partners. Korea exported synthetic fibers, chemicals and machinery to Bangladesh, while importing apparel, leather goods and seafood from Bangladesh. The trade balance remained a $0.6 billion surplus for Korea, and the bilateral trade structure was closely linked through the RMG supply chain.
Korean Exports to Bangladesh
| Item | Export Value | Share | Growth | Use |
|---|---|---|---|---|
| Synthetic Fibers and Yarn | $350M | 29% | -8% | RMG raw material |
| Chemicals and Plastics | $250M | 21% | +5% | Industrial raw material |
| Steel and Metal Products | $150M | 13% | -5% | Construction and manufacturing |
| Machinery and Equipment | $120M | 10% | -3% | Industrial equipment |
| Electronic Components | $100M | 8% | +10% | Consumer appliances and communications |
| Auto Parts | $80M | 7% | +8% | CKD and components |
| Others | $150M | 12% | +2% | Diverse |
Synthetic fibers and yarn accounted for 29% of Korean exports and were used as raw materials for Bangladesh's RMG industry. Korean polyester and nylon yarns were woven into fabrics in Bangladesh, then re-exported to Europe and the United States.
Korean Imports from Bangladesh
Bilateral Trade Trend
Korea-Bangladesh trade, centered on the RMG value chain, stands at about $1.8 billion. With progress toward CEPA and deeper Korean investment, a $3 billion trade target by 2025 appears achievable. Korean firms can broaden opportunities beyond traditional textiles and chemicals into cosmetics, food, medical devices and IT services.