As we know, Bangladesh is a thriving South Asian nation and has become a major player in the world of global trade. Based on Bangladesh Import Data, machinery includes electrical machinery and equipment, iron and steel, plastics, cotton, cars, man-made staple fibers, animal or vegetable fats and oils, and grains, which are among Bangladesh's major imports. It provide important resources and goods to support its diverse industries and growing population. This blog will provide you with updated and authentic Bangladesh import data with active importers and global trade partners in 2023.
Overview of Bangladesh import data for 2023:
Bangladesh imports a wide range of goods and services, including intermediate goods, capital goods, and consumer goods. In 2021, Bangladesh was the world's 32nd largest economy in terms of GDP (current US dollars), 56th in total exports, 48th in total imports, and 133rd in GDP per capita (current US dollars).
As per Bangladesh import data, Bangladesh imports recorded US$ 5.9 billion in July 2023, compared with a value of US$ 4.5 billion in the previous month. Based on Bangladesh trade data, Bangladesh imported goods of worth $ 96.17 billion in 2022, a 35.12% increase from the previous year. At Eximpedia.app, we provide comprehensive Bangladesh export import data as well as updated market statistics for broad categories of import and export trading firms.
Who is the biggest importer of Bangladesh?
As per the Bangladesh importers list, the leading importer of Bangladesh is China. Here is an updated list of the top import partners of Bangladesh.
- China: China is the major importer of Bangladesh, with a share of 21.6% of total imports in 2023. Cotton, electrical machinery, plastic, filaments, iron and steel, organic compounds, paper, fertilizers, and so on are some products that china imports With such a close relationship between the two nations, China is expected to remain an important import partner for Bangladesh for the foreseeable future.
- India: For several years, trade between Bangladesh and its neighboring country, India, has remained strong. As a result, Bangladesh imports the second-highest volume of commodities from India, amounting to $18.8 billion 2022-23. Cereals, cars, mineral fuels, organic compounds, sugar, ores, soap, and many more goods are among them.
- Singapore: Now that we've covered some of Bangladesh's most obvious import partners, the country's next top import partner is Singapore. In 2022-23, Bangladesh imported over $7.9 billion in commodities from Singapore, including mineral fuels, animal fats, organic chemicals, electrical equipment, oil seeds, tanning extracts, and so on.
- United States of America: The U.S. is the fourth largest import partner of Bangladesh as USA Import Data. Oil seeds, iron and steel, cotton, ships, pharmaceutical products, and many others are brought straight from North America. An aggregate of $2.26 billion worth of imports from the U.S. in 2022-23.
- Japan: Bangladesh imports an extensive amount of iron and steel, ships, vehicles, zinc, man-made fibers, ores, plastic, and rubber items from Japan. The country has been an important contributor to the development of Bangladesh. In 2022-23, Bangladesh imported $6.8 billion of commodities from Japan, as per Bangladesh imports data.
What are the major imports of Bangladesh?
Based on import data of Bangladesh, these are the top 10 import commodities from Bangladesh:
- Petroleum and oil: $5.48 billion
- Cotton: $2.8 billion
- Yarn: $2.26 billion
- Wheat: $1.92 billion
- Rubberized knitted fabric: $1.83 billion
- Machinery: $1.44 billion
- Chemicals: $1.43 billion
- Electrical machinery: $1.32 billion
- Iron and steel: $1.29 billion
- Edible oil: $1.24 billion
Now, we discuss the top 5 imported commodities in Bangladesh briefly:
- Petroleum and oil ($5.48 billion): Bangladesh heavily imports petroleum and oil to meet its energy needs. This includes various types of refined petroleum products, crude oil, and other derivatives used for energy production, transportation, and various industrial applications.
- Cotton ($2.8 billion): Cotton is an important import for Bangladesh's garment industry, which is a prominent sector in the country. It is the primary raw material for textile and clothing manufacturing and a significant contributor to the country's economy.
- Wheat ($1.92 billion): Wheat is an essential staple food in Bangladesh. The country imports this grain to meet its domestic consumption and to ensure food security.
- Chemicals ($1.43 billion): Chemical imports encompass a wide range of products used in various industries, including pharmaceuticals, agriculture, manufacturing, and other sectors. This might include various types of industrial chemicals, pharmaceutical ingredients, and more.
- Iron and steel ($1.29 billion): Imports of iron and steel consist of various products, such as steel bars, sheets, rods, and other forms of processed iron and steel, used in construction, manufacturing, and infrastructure development.
So, if you are a trader looking to export and import in Bangladesh or need market information, you need to contact EximPedia.app. Here you find the updated importers in Bangladesh and the updated HS codes.
Also read:- List of Major Importers in India: Top Import Companies
Top Trading Partners of Bangladesh
Here are the top trading partners for Bangladesh in 2022–23:
- United States: Exports: $8.72 billion; Imports: $3.13 billion
- Germany: Exports:$4.67 billion;, Imports: $1.47 billion
- United Kingdom: Exports:$3.50 billion;, Imports: $1.10 billion
- India: Exports: $2.68 billion; Imports: $6.18 billion
- China: Exports: $2.57 billion; Imports: $10.34 billion
- Spain: Exports: $1.84 billion; Imports: $582 million
- France: Exports: $1.75billio;, Imports: $555 million
- Singapore: Exports: $1.24 billion; Imports: $441 million
As you can see, the USA, Germany, and the United Kingdom are Bangladesh's top three export destinations. These countries are important markets for Bangladesh's textiles, leather goods, and ready-made garments. If you are looking to export your products to these countries or need importers data, you need to connect with our Exim dashboard.
How do I obtain Bangladesh Active Importers data?
The real task is for you to select the top importers with whom you can build enduring partnerships. Also, finding genuine and reliable buyers in Bangladesh is a complex task. Simply, you need to visit Eximpedia's data-driven dashboard to analyze the active Bangladesh importers.
Eximpedia is a platform that offers reliable, current, and authentic information about global trade for 100+ countries. Along with other items, we also offer updated importer data. Our data specialists are always prepared to provide customized and reliable global trade data to help you investigate the market for international trade If you need any kind of assistance with Bangladesh import data, join now to attend a free live demonstration at your place!
