Analysis and Studies - Country Analysis

Bangladesh: a look at the market

Overview

In 2022, Bangladesh ranked as the 34th largest economy globally in terms of GDP (current US$), 52nd in total exports, 47th in total imports, 136th in GDP per capita (current US$), and 101st in the Economic Complexity Index (ECI).

Exports

Bangladesh's top exports include Knit T-shirts ($9.06B), Non-Knit Men's Suits ($8.82B), Knit Sweaters ($8.02B), Non-Knit Women's Suits ($6.63B), and Knit Women's Suits ($4.08B). The main export destinations are the United States ($11.7B), Germany ($10.2B), the United Kingdom ($4.86B), Spain ($4.41B), and Poland ($3.53B).

In 2022, Bangladesh was the largest global exporter of Non-Knit Men's Shirts ($2.59B), Knit Men's Shirts ($1.44B), Jute Yarn ($528M), Jute and Other Textile Fibers ($205M), and Textile Scraps ($171M).

Imports

The country's top imports consist of Refined Petroleum ($11.3B), Raw Cotton ($2.9B), Non-Retail Pure Cotton Yarn ($1.97B), Scrap Iron ($1.86B), and Palm Oil ($1.77B). Bangladesh imports mainly from China ($26.8B), India ($13.8B), Singapore ($4.68B), Malaysia ($4.23B), and Indonesia ($3.89B).

In 2022, Bangladesh was the world’s leading importer of Heavy Pure Woven Cotton ($1.42B), Heavy Mixed Woven Cotton ($1.03B), Light Pure Woven Cotton ($975M), Flax Woven Fabric ($381M), and Woven Fabric of Synthetic Staple Fibers ($318M).

Geography

Bangladesh shares land borders with Burma and India.

Most Specialized Products by RCA Index

Bangladesh demonstrates significant specialization in Jute Yarn (RCA 334), Textile Scraps (RCA 78.2), Non-Knit Men's Shirts (RCA 70.8), Non-Knit Men's Suits (RCA 62.5), and Non-Knit Babies' Garments (RCA 61.2). Specialization is assessed using the RCA (Revealed Comparative Advantage) Index, which compares the ratio of Bangladesh's actual exports to the expected exports for each product.

Data sources: BACI HS6 REV. 1992 (1995 - 2022).

Most Complex Products by PCI

According to the Product Complexity Index (PCI), the most complex exports of Bangladesh include Automatic goods-vending machines (e.g., for postage stamps, cigarettes, food, or beverages) with a PCI score of 0.82, followed by Quaternary ammonium salts and hydroxides, lecithins, and other phosphoaminolipids, at 0.57. Other complex products include Instruments, apparatus, and models designed for demonstration purposes (e.g., in education or exhibitions) with a PCI score of 0.5, Frames and mountings for spectacles, goggles, or similar items, and their parts, with a PCI of 0.47, and Hydrogen peroxide, whether or not solidified with urea, scoring 0.36. The PCI gauges the knowledge intensity of a product by evaluating the intellectual capital of its exporters.

Data sourced from BACI HS6 REV. 1992 (1995-2022) and OEC Economic Complexity Indicators. 

Source: https://oec.world/