Bangladesh imported an estimated US$69.8 billion worth of goods from around the globe in 2021, up by 38.6% since 2017 and up by 39.3% from 2020 to 2021.

The top 5 products imported into Bangladesh in 2021 were processed petroleum oils, raw cotton, yarn consisting of 85% or more cotton, wheat, then iron or steel scrap. Combined, those major imports represent about one-fifth (19.8%) of all Bangladeshi imported goods.

Based on the average exchange rate for 2021, the Bangladeshi taka depreciated by -5.8% against the US dollar since 2017 and reduced by -0.3% from 2020 to 2021. The weaker local currency in Bangladesh makes its imports paid for in stronger US dollars relatively more expensive when converted starting from the Bangladeshi taka.

Given Bangladesh’s population of 166.3 million people, its total $69.8 billion in 2021 imports translates to roughly $420 in yearly product demand from every person in the densely populated South Asian country. That dollar metric compares to an average $280 per capita for 2020.

Bangladesh’s Top 10 Imports

The following product groups represent the highest dollar value in Bangladesh’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into Bangladesh.

1. Cotton: US$8.4 billion (12.1% of total imports)
2. Mineral fuels including oil: $6.8 billion (9.8%)
3. Machinery including computers: $6.5 billion (9.4%)
4. Electrical machinery, equipment: $4.5 billion (6.4%)
5. Iron, steel: $3.8 billion (5.5%)
6. Cereals: $3.4 billion (4.8%)
7. Plastics, plastic articles: $3.1 billion (4.5%)
8. Animal/vegetable fats, oils, waxes: $2.4 billion (3.5%)
9. Knit or crochet fabric: $2.11 billion (3%)
10. Vehicles: $1.95 billion (2.8%)

Bangladesh’s top 10 imports approach more than three-fifths (61.8%) of the overall value of its product purchases from other countries.

The fastest-growing product categories was for imported cereals via a 94.4% increase from 2020 to 2021, propelled by Bangladesh’s higher spending on wheat, rice and corn.

In second place for escalating import purchases were animal or vegetable fats, oils and waxes (up 70.7%) ahead of imports of iron and steel (up 58.1%) and cotton (up 56.8%).

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other the adjacent virtual folder tabs labeled with product groups is at the more granular 4-digit level.

Bangladesh’s Imports of Cotton and Related Products

In 2021, Bangladeshi importers spent the most on the following 10 subcategories of cotton and related products.

1. Cotton (uncarded, uncombed): US$2.8 billion (up 45.5% from 2020)
2. Yarn (85%+ cotton): $2.2 billion (up 142.7%)
3. Woven fabrics (85%+ cotton): $1.3 billion (up 34.5%)
4. Woven fabrics (mixed): $948.8 million (up 37%)
5. Woven cotton fabrics: $710.2 million (up 15.4%)
6. Yarn (under 85% cotton): $251.2 million (up 194.5%)
7. Woven fabrics (under 85% cotton): $207.2 million (up 34.5%)
8. Other woven fabrics: $48.4 million (up 52.9%)
9. Cotton waste: $12.5 million (up 11.1%)
10. Cotton (carded, combed): $3.9 million (down -76.9%)

Among these import subcategories, Bangladeshi purchases of uncombed cotton (up 194.5%), yarn comprised of 85% or more cotton (up 142.7%) then woven fabrics comprised of 85% or more cotton (up 52.9%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported cotton among Bangladeshi businesses and consumers.

Bangladesh’s Imports of Mineral Fuels and Related Products

In 2021, Bangladeshi importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$5.4 billion (up 102.7% from 2020)
2. Coal, solid fuels made from coal: $586.5 million (up 49.6%)
3. Electrical energy: $460.5 million (up 8.4%)
4. Petroleum gases: $409.8 million (down -62.2%)
5. Petroleum oil residues: $16.9 million (up 51.3%)
6. Petroleum jelly, mineral waxes: $7.8 million (down -13.9%)
7. Coke, semi-coke: $5.1 million (down -3.8%)
8. Distilled tar: $3.5 million (up 18.5%)
9. Coal tar oils (high temperature distillation): $3.3 million (up 28.9%)
10. Asphalt/petroleum bitumen mixes: $1 million (up 136.5%)

Among these import subcategories, Bangladeshi purchases of asphalt and petroleum bitumen mixes (up 136.5%), processed petroleum oils (up 102.7%) then petroleum oil residues (up 51.3%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among Bangladeshi businesses and consumers.

Bangladesh’s Imports of Machinery Including Computers

In 2021, Bangladeshi importers spent the most on the following 10 subcategories of machines including computers.

1. Liquid pumps and elevators: US$403.1 million (up 50.6% from 2020)
2. Steam/vapor turbines: $348.9 million (up 651.8%)
3. Temperature-change machines: $329.2 million (up 5.2%)
4. Computers, optical readers: $322.6 million (up 39%)
5. Yarn wash/clean/iron machines: $275.6 million (up 59.7%)
6. Air or vacuum pumps: $266.5 million (up 51%)
7. Sewing machines, related furniture: $263.1 million (up 78.4%)
8. Miscellaneous machinery: $234.7 million (up 34.9%)
9. Centrifuges, filters and purifiers: $227 million (up 51.2%)
10. Taps, valves, similar appliances: $218.2 million (up 50.1%)

Among these import subcategories, Bangladeshi purchases of steam and vapor turbines (up 651.8%), sewing machines and related furniture (up 78.4%) then yarn washing, cleaning or ironing machines (up 59.7%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Bangladeshi businesses and consumers.

Bangladesh’s Imports of Electrical Items

In 2021, Bangladeshi importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.

1. Phone devices including smartphones: US$1.4 billion (up 13.8% from 2020)
2. Electrical/optical circuit boards, panels: $356 million (up 229.1%)
3. Electrical converters/power units: $329.1 million (up 21.5%)
4. Insulated wire/cable: $232.2 million (up 51%)
5. Unrecorded sound media: $193.2 million (up 9.8%)
6. Electric generating sets, converters: $184.8 million (up 11.2%)
7. Integrated circuits/microassemblies: $179 million (up 535.5%)
8. Electric storage batteries: $172.8 million (up 21.2%)
9. Electric motors, generators: $158.8 million (down -37.2%)
10. TV/radio/radar device parts: $153.1 million (up 16%)

Among these import subcategories, Bangladeshi purchases of integrated circuits or microassemblies (up 535.5%), electrical and optical circuit boards and panels (up 229.1%) then insulated wire or cable (up 51%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Bangladeshi businesses and consumers.
 

See also Bangladesh’s Top 10 Exports, Top Exported Hats by Country, Top Exported Baby Clothing Sales, and Cotton Imports by Country

Research Sources:
Central Intelligence Agency, The World Factbook report on South Asia: Bangladesh. Accessed on June 3, 2022

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on June 3, 2022

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on June 3, 2022

International Trade Centre, Trade Map. Accessed on June 3, 2022