14-Jul-2023
When it comes to trade between India and Bangladesh, there's quite a bit going on. These two neighboring countries have a fine relationship, with plenty of goods and products flowing back and forth across their borders. So, if you're curious about the major imports and exports between India and Bangladesh, you're in the right place! Let's discover the exciting world of trade between these two nations. Recent trends and developments in Bangladesh,
Bangladesh has experienced substantial economic growth over the years, and its trade sector plays a crucial role in driving the economy. The country's strategic location and competitive labor costs have made it an attractive destination for manufacturing and trade. Bangladesh primarily exports ready-made garments, textile products, jute, leather goods, and agricultural commodities.
On the other hand, its major imports include machinery, petroleum products, chemicals, and electronic goods. This trade relationship with India has witnessed significant growth, leading to increased collaboration and economic ties between the two countries.
So, here are the statistics. In terms of exports, India’s exports to Bangladesh were valued at US$ 8 billion during April–November 2022, based on Importers data from India. In 2022, the country exported a staggering $41 billion worth of clothing and textiles. But wait, there's more! Bangladesh isn't just about clothes; the country is a major exporter of jute and jute goods, which brought in around $1.3 billion in 2022, as per Bangladesh Trade Data.
India imports various products from Bangladesh, and India exports to Bangladesh, contributing to its domestic market and industries. Some top import products from Bangladesh to India include ready-made garments, textiles, jute and jute goods, leather goods, and agricultural products such as fruits, vegetables, and processed food items.
Here are some of the top import products from Bangladesh to India:
Textiles and Apparel: Bangladesh's textile and apparel industries are renowned worldwide. India imports a significant volume of ready-made garments, textiles, and knitwear from Bangladesh due to their competitive pricing and quality.
Pharmaceuticals: Bangladesh has become a major exporter of generic medicines and pharmaceutical products. India imports various pharmaceutical formulations and raw materials from Bangladesh, contributing to the growth of the Indian healthcare sector.
Leather and Leather Goods: Bangladeshi manufacturers produce high-quality leather goods. India imports leather footwear, bags, and wallets from Bangladesh, appreciating the craftsmanship and affordability offered by Bangladeshi manufacturers.
Also Read: How to Boost Textile Exports from India?
India, a vast consumer market, provides significant demand for various products from Bangladesh. Here are some of the top export products from Bangladesh to India:
Jute and Jute Goods: Bangladesh has a rich heritage in jute production. India imports jute fibers, jute sacks, and jute products from Bangladesh, which are widely used in packaging, agriculture, and other industries.
Ceramics and Pottery: Bangladesh is known for its exquisite ceramics and pottery products. Indian consumers have grown increasingly interested in importing decorative items, kitchenware, and tiles from Bangladesh, appreciating their unique designs and craftsmanship.
Agricultural Products: Bangladesh exports various agricultural products to India, including fruits, vegetables, fish, and seafood.
India, one of Bangladesh's largest trading partners, has strengthened its trade ties with the country, creating a mutually beneficial relationship. Bangladesh's trade extends beyond India, with several nations being key trading partners.
In 2022, some of Bangladesh's top trading partners included:
United States: The United States holds a significant share of Bangladesh's total exports, importing a wide range of products such as textiles, garments, and pharmaceuticals.
European Union (EU): The EU is one of the major destinations for Bangladesh's exports, particularly in the textile and apparel sectors.
China: China is a crucial trading partner for Bangladesh, importing various goods, including textiles, machinery, and electronics.
Bangladesh's trade sector has experienced several notable trends and developments. The country has focused on diversifying its export products, moving beyond traditional sectors like ready-made garments and jute. There has been an emphasis on expanding exports in the pharmaceutical, information technology, and services sectors.
Here are some recent trends and developments worth mentioning:
Economic Diversification: Bangladesh has been focusing on diversifying its export basket by expanding into new industries such as IT and software services, shipbuilding, and pharmaceuticals, thereby increasing its export potential.
Infrastructure Development: Investments in infrastructure projects, including ports, roads, and power plants, have improved connectivity and trade facilitation, enabling smoother movement of goods.
Trade Agreements: Bangladesh has actively engaged in bilateral and regional trade agreements to enhance its trade relations and expand market access for its products.
To access data imports for Bangladesh, there are various reliable sources available. One such platform is ExportImportData.in, which provides comprehensive information on imports and exports, including product categories, volumes, values, HS codes, etc. We can also provide valuable insights for India's Import Data from our extensive dashboard.
Also Read: How to Export iPhone from India?
The trade relationship between India and Bangladesh thrives, benefiting both nations economically. India imports from Bangladesh, including textiles, pharmaceuticals, and leather goods, while Bangladesh exports jute, ceramics, and agricultural products to India. Understanding the major import and export products, along with insights on trading partners and recent trends, enables businesses and individuals to tap into the potential of this bilateral trade. By leveraging accurate import data from the top market research websites like ExportImportData.in, stakeholders can make informed decisions and explore new avenues for growth in the India-Bangladesh trade corridor.
We hope this blog has provided valuable insights into the major imports and exports between India and Bangladesh, facilitating a deeper understanding of the trade dynamics between the two nations. If you have any queries related to India trade data, Export and Import Data, or Exim Data, please connect to our dedicated experts to explore global market insights.
Export Import Data solutions is one of the best online import export websites in India that provides trade data services and trading business information. Currently, Export import data is the best import export data provider and market research companies in India.
