That estimated dollar metric results from a 13.7% upturn from $57.7 billion five years earlier in 2018.
Year over year, the total cost for Bangladeshi imported goods fell -15.2% compared to $77.4 billion for 2021.
Based on the average exchange rate for 2022, the Bangladeshi taka depreciated by -9.9% against the US dollar since 2018 and diminished by -7.8% from 2021 to 2022. 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 168.5 million people, its total $65.6 billion in 2022 imports translates to roughly $390 in yearly product demand from every person in the densely populated South Asian country. That dollar metric falls below the average $420 per capita for 2021.
Bangladesh’s Top 10 Imports
The following product groups represent the highest dollar value in Bangladesh’s import purchases during 2022. Also shown is the percentage share each product category represents in terms of overall imports into Bangladesh.
- Mineral fuels including oil: US$11.5 billion (17.6% of total imports)
- Machinery including computers: $6.2 billion (9.4%)
- Cotton: $4.9 billion (7.5%)
- Electrical machinery, equipment: $4.3 billion (6.5%)
- Iron, steel: $3.9 billion (6%)
- Animal/vegetable fats, oils, waxes: $2.7 billion (4.2%)
- Plastics, plastic articles: $2.5 billion (3.8%)
- Fertilizers: $2.2 billion (3.3%)
- Knit or crochet fabric: $2.14 billion (3.3%)
- Manmade staple fibers: $2.09 billion (3.2%)
Bangladesh’s top 10 imports approach two-thirds (64.7%) of the overall value of its product purchases from other countries.
The fastest-growing product category was for Bangladeshi imported mineral fuels including oil via a 94.4% increase from 2021 to 2022 That leading category was propelled by Bangladesh’s higher spending on refined petroleum oils and coal.
In second place for escalating import purchases were animal or vegetable fats, oils and waxes (up 70.7% from 2021) ahead of imported fertilizers (up 13.9%).
The severest declines among Bangladesh’s leading imports were for cotton (down -45.7% from 2021), plastics both as materials and items made from plastic (down -31.5%), then electrical machinery and equipment (down -12.5%).
Please note that the product category results listed above are at the 2-digit Harmonized Tariff System code level. Information presented below at the more granular 4-digit HTS level.
Delving into the more detailed HTS codes, the top 10 products imported into Bangladesh in 2022 were processed petroleum oils (15%), iron or steel scrap (2.9%), raw cotton (also 2.9%), palm oil (2.7%), synthetic yarn woven fabrics (1.9%), coal including solid fuels made from coal (1.8%), phone devices including smartphones (1.7%), soya beans (also 1.7%), fertilizer mixes (1.5%) and fabrics other than warp-knit (1.4%).
Collectively, those major imports represent about one-third (33.5%) of all Bangladeshi imported goods.
Bangladesh’s Imports of Mineral Fuels and Related Products
In 2022, Bangladeshi importers spent the most on the following 10 subcategories of mineral fuels-related products.
- Processed petroleum oils: US$9.8 billion (up 78.8% from 2021)
- Coal, solid fuels made from coal: $1.2 billion (up 105.7%)
- Petroleum gases: $405.4 million (down -75.9%)
- Crude oil: $57.5 million (up 287,240%)
- Coke, semi-coke: $8.4 million (up 65.7%)
- Petroleum jelly, mineral waxes: $7.5 million (down -19.5%)
- Petroleum oil residues: $7 million (down -88.8%)
- Coal tar oils (high temperature distillation): $3.3 million (down -14.3%)
- Electrical energy: $658,000 (down -99.9%)
- Distilled tar: $415,000 (down -88.3%)
Among these import subcategories, Bangladeshi purchases of crude oil (up 287,240%), coal including solid fuels made from coal (up 105.7%) then processed petroleum oils (up 78.8%) grew at the fastest pace from 2021 to 2022.
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 2022, Bangladeshi importers spent the most on the following 10 subcategories of machines including computers.
- Yarn wash/clean/iron machines: US$335.3 million (up 18.4% from 2021)
- Sewing machines, related furniture: $318.2 million (up 15%)
- Computers, optical readers: $307.5 million (down -8.7%)
- Textile fiber work machines: $295.3 million (up 84.7%)
- Air or vacuum pumps: $286.4 million (down -2.8%)
- Knitting/stitching machines: $234.7 million (up 50.1%)
- Lifting/loading machinery: $224.8 million (up 37.7%)
- Miscellaneous machinery: $213.3 million (down -12.1%)
- Turbo-jets: $211.1 million (up 77.7%)
- Liquid pumps and elevators: $205.2 million (down -53.1%)
Among these import subcategories, Bangladeshi purchases of textile fiber work machines (up 84.7%), turbo-jets (up 77.7%) then knitting or stitching machines (up 50.1%) grew at the fastest pace from 2021 to 2022.
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 Cotton and Related Products
In 2022, Bangladeshi importers spent the most on the following 10 subcategories of cotton and related products.
- Cotton (uncarded, uncombed): US$1.9 billion (down -37.4% from 2021)
- Woven fabrics (mixed): $803.5 million (down -24.1%)
- Woven fabrics (85%+ cotton): $765 million (down -46.1%)
- Woven cotton fabrics: $729.4 million (down -7.3%)
- Yarn (85%+ cotton): $357.5 million (down -84.2%)
- Woven fabrics (under 85% cotton): $255.6 million (up 8.7%)
- Yarn (under 85% cotton): $93.8 million (down -66.4%)
- Other woven fabrics: $43.1 million (down -18.4%)
- Cotton waste: $15.3 million (up 21.1%)
- Cotton (carded, combed): $2 million (down -63.6%)
Among these import subcategories, Bangladeshi purchases of cotton waste (up 21.1%) and woven fabrics (under 85% cotton) grew at the fastest pace from 2021 to 2022.
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 Electrical Items
In 2022, Bangladeshi importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.
- Phone devices including smartphones: US$1.1 billion (down -31.6% from 2021)
- Electrical converters/power units: $344.1 million (down -0.2%)
- Insulated wire/cable: $267.9 million (up 4.5%)
- Electric generating sets, converters: $244.7 million (up 28.6%)
- Integrated circuits/microassemblies: $189.1 million (up 0.4%)
- Electrical/optical circuit boards, panels: $184.4 million (down -49.3%)
- Unrecorded sound media: $178.7 million (down -10%)
- Flat panel displays: $157.9 million (2021 data unavailable)
- Solar power diodes/semi-conductors: $149.4 million (up 128.1%)
- TV/radio/radar device parts: $142.4 million (down -21.7%)
Among these import subcategories, Bangladeshi purchases of solar power diodes and semi-conductors (up 128.1%), electric generating sets or converters (up 28.6%) then insulated wire and cable (up 4.5%) grew at the fastest pace from 2021 to 2022.
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 July 5, 2023
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on July 5, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on July 5, 2023
International Trade Centre, Trade Map. Accessed on July 5, 2023
