Bangladesh flag Bangladesh: Economic and Political Overview

Foreign trade figures of Bangladesh

Foreign Trade in Figures

Trade represents only 34% of Bangladeshi GDP (World Bank, latest data available). According to government data, ready-made garments comprise the majority of exports, followed by jute, shrimps and prawns, and footwear; whereas imports are led by Iron & steel, edible oil, fertilizers, and petroleum products.

The country's main export partners are the U.S. (19.8%), Germany (14.4%), the UK (9.1%), Spain (6%), and France (5.1%). Imports come chiefly from China (21.3%), India (17%), Singapore (8%), Indonesia (5%), and Malaysia (3.9% - data NBS). The country acts as a passageway between the center of India and its Eastern provinces. Customs duties in Bangladesh are relatively high; however, the country is implementing a series of measures to reduce its trade barriers, including concessional tariffs, a customs duty recovery system, export processing zones, as well as high-level negotiations with key countries. Bangladesh has benefited from more simplified procedures and regulations to export its products to the European Union as an LDC (least developed country).

Since becoming independent, Bangladesh has had a negative trade balance, with its deficit being financed by international aid and expatriate transfers. In 2022, exports of goods from Bangladesh increased to USD 54.7 billion (from 44.2 billion the previous year) and imports of goods increased to USD 88.2 billion (from 80.4 billion in 2021 – data WTO). With regards to services, the imports for 2022 were USD 12.1 billion, while the exports were USD 8.2 billion. The World Bank estimated the country’s trade deficit at 8% of its GDP (from 6.4% one year earlier). In the first half of the 2023-24 fiscal year (July 2023-June 2024), Bangladesh's total exports increased by 0.84% year on year to USD 27.54 billion, as per the latest official data. Meanwhile, imports fell by 18.19% year on year to USD 33.68 billion during the same period.

Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 59,09452,80480,44888,23466,863
Exports of Goods (million USD) 39,33733,60544,22354,69555,788
Imports of Services (million USD) 9,5587,92710,86612,19010,713
Exports of Services (million USD) 6,2146,0207,4758,2346,095

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 32.531.626.327.733.8
Trade Balance (million USD) -17,284-15,929-16,394-32,617-29,792
Trade Balance (Including Service) (million USD) -21,457-19,273-18,300-36,008-33,677
Imports of Goods and Services (Annual % Change) 23.90.5-11.415.331.2
Exports of Goods and Services (Annual % Change) 6.111.5-
Imports of Goods and Services (in % of GDP) 19.818.515.817.120.9
Exports of Goods and Services (in % of GDP) 12.713.110.410.712.9

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change)
Volume of imports of goods and services (Annual % change) -

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

International Economic Cooperation
Member of South Asian Association for Regional Cooperation (SAARC), as well as of the preferential trade agreements (SAPTA) and Free Trade Area (SAFTA) associated with the Association.
Member of the Group of 8 Developing Countries (
Member of the Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation (
Member of the Asia-Pacific Trade Agreement (

To go further, check out our service Import-Export Flows.


Main Services

7.4 bn USD of services exported in 2022
16.8 bn USD of services imported in 2022

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: April 2024

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