The nation is home to the largest mangrove forest in the world and 700 rivers serving its water needs. The country is surrounded by the diverse nation India in the west, north, and east direction excepting a small border with Burma in the southeast direction. Beyond its eye-captivating natural beauty, the rich culture and traditions of the nation have also done no less in making it popular at a global rate. It is spread over an area of 147,570 square kilometers, the history of the country dates back thousands of years ago and represents its dynasties such as the Maurya and Gupta Empires with its role in the nation.

The diverse nation Bangladesh has a population of 166 million among which the majority practices Bengali as their mother tongue accompanied by some other tribal languages like Garo, Meitei, and Rakhine. According to the Bangladesh Trade Data, the gross domestic product of the nation with its expanding reach of global trade has recorded a value of 364.3 billion US dollars and export trade revenue of 60 billion US dollars.

Top 10 Exports of Bangladesh 2023

The government authority of Bangladesh has focused on the trade sectors and manufacturing industries for the past few years to emerge as a top trader in the global trade market. The manufactured and exported products had a significant role in the trade market, the top 10 exported products of Bangladesh as per the Bangladesh Export Data are below,

• Readymade garments (HS code - 52) – Export trade value of 2023 – 40 billion US dollars.

• Leather and leather goods (HS code - 42) – Export trade value of 2023 – 1 billion US dollars.

• Jute and Jute products (HS code - 53) – Export trade value of 2023 – 900 million US dollars.

• Pharmaceuticals (HS code - 29) – Export trade value of 2023 – 400 million US dollars.

• Frozen fish (HS code - 30) – Export trade value of 2023 – 550 million US dollars.

• Agricultural products (HS code - 84) – Export trade value of 2023 – 350 million US dollars.

• Ceramic products (HS code - 69) – Export trade value of 2023 – 250 million US dollars.

• Raw Jute (HS code - 53) – Export trade value of 2023 – 200 million US dollars.

• Tea (HS code - 09) – Export trade value of 2023 – 150 million US dollars.

• ICT services (HS code - 52) – Export trade value of 2023 – 80 million US dollars

Top 10 Export Destinations of Bangladesh 2023

The country has evolved its trade rate with trade agreements and better transportation services. The strategic location along with low labor costs promotes the export trade revenue contributing to its economic growth. As per the Bangladesh Customs Shipment Data, the top 10 nations where Bangladesh used to export most of its manufactured items are below,

• United States – Bangladesh used to export around 20% of its manufactured items to the United States. The trade relation between these two countries is getting better with time and has recorded annual revenue of 8 billion US dollars in the year 2023. The products exported from Bangladesh to the United States at a major rate are frozen fish, jute goods, and readymade garments.

• Germany – Germany with a trade share of 14% in the annual revenue of export trade holds the second position of the top export partners of Bangladesh. Textile apparel and ceramic products are exported from Bangladesh to Germany with an export trade value of 6 billion US dollars in 2023.

• United Kingdom – Though United Kingdom’s political relations with Bangladesh have not been good so far. Still, the country is a significant trade partner of Bangladesh with annual trade revenue of 5 billion US dollars in 2023. The top products exported from Bangladesh to the United Kingdom are Leather goods and apparel.

• France – France, with an increased trade rate of 15% in 2023 with Bangladesh has accounted for export trade revenue of 4 billion US dollars in 2023. The trade rate of the countries is led by the readymade garments of Bangladesh;

• Spain – With the evolving time, the countries are focusing more on their textile industries to meet the global trends. Spain is one of those Bangladeshi trade partners who used to import numerous textiles from Bangladesh; the total export trade value of Bangladesh exports to Spain in 2023 is 2 billion US dollars.

• Italy – As per the Bangladesh Customs Data, Italy comes in the top 5th position of the Bangladesh export trade partners. The export trade value of the Italian imports of Bangladesh in 2023 is recorded as 1.5 billion US dollars, with garments and textiles as the top imports.

• Canada – Canada is also a significant trade partner of Bangladesh with annual export trade revenue of 1 billion US dollars in 2023. Canada used to import products like pharmaceuticals and leather goods at a major rate from the South Asian nation.

• Netherlands – The annual export trade value of the products that Bangladesh used to export to the Netherlands in 2023 accounted as 800 million US dollars. The Netherlands exported agricultural goods from Bangladesh to fulfill its domestic needs for farming sources.

• Japan – Japan with an export trade value of 700 million US dollars holds the 9th position of the top export partners of Bangladesh. The major trade share of the products traded within these two countries is captured by frozen fish and ceramic products.

• India – Last but not least India holds the top 10th position of the Bangladesh export trade partners with major exports like garments, pharmaceuticals, and jute products. The total export revenue of the products traded in 2023 is 500 million US dollars.

FAQ’s

Que. What is the top export of Bangladesh in 2023?
Ans. Readymade garments will be the top export of Bangladesh in 2023.

Que. What is the GDP of Bangladesh in 2023?
Ans. The GDP of Bangladesh in 2023 is recorded as 364.3 billion US dollars.

Que. Name the top export trade partner of Bangladesh in 2023.
Ans. The top export trade partner of Bangladesh in 2023 is the United States.

Que. Where you can get the export trade data of Bangladesh and other Asian countries?
Ans. At Import Globals, you can get information on export trade details of Bangladesh and other Asian countries.

www.importglobals.com ; info@importglobals.com