Apart from readymade garments, Bangladesh is gradually consolidating its position in the world market by exporting various other products including jute, leather and textiles. According to the latest report of the World Trade Organisation (WTO) titled ‘World Trade Statistical Review 2021’, Bangladesh ranks 39th in global exports and 2nd among South Asian countries. Bangladesh is ranked third in this area, trailing only India and Pakistan.
In 2020, Bangladesh exported goods worth USD 34 billion. Due to the COVID-19 pandemic, exports fell 15% from 2019, but Bangladesh’s global share was 0.2%. India ranks at the top in South Asia, and with exports of of USD 276 billion in 2020, it ranked 16th globally. Last year, the country’s exports fell by 15%, but its share of the world market was 1.9%. Pakistan ranks 3rd among South Asian countries and ranks 45th in the world. In 2020, the country exported USD 22 billion worth of goods. Due to COVID-19, exports decreased by 6%.
On the other hand, Bangladesh is the 32nd largest importer of goods in the world. Last year, the import of goods was USD 52 billion. Imports decreased by 11% compared to the previous year. Global share is 0.4%.
Although it declined in the beginning of 2020, Bangladesh’s exports started to turn towards the end. In the last fiscal year 2020-21, Bangladesh exported a total of USD 38.75 billion worth of goods, which is 15.10% more than the previous fiscal year 2019-20. Exports were valued at USD 33.67 billion that year. 81% of the total export income came from the readymade garments sector.
