In terms of GDP, Bangladesh has been kept at the 40th rank among the economies of the world and has been recognized as the 131 economy which is complex in form as per Economic Complexity Index. On the other hand, as per Bangladesh Trade Data, the country stands at the 49th position in global import. Bangladesh only had a 2.68% trade growth rate. This stated the situation that it had -6.61% less growth percentage from that of the world growth. In current US dollars, the GDP of Bangladesh has been calculated to around 274,024,958,970.
Import Data Bangladesh showed that it has imported goods that worth around 52 billion US dollars from the year December 2019 to November 2020. The monthly average could be calculated as 4 billion US dollars, making a high record in January 2020 with 6 billion USD and a lower record of zero dollars in November 2020 during the same calculated year. The services import this country has is 9,925,426,283.60 US$. Moreover, Bangladesh is now planning to import hydropower from Nepal and Bhutan. Based on the statistics of the country’s trading situation, it can largely be stated that this country is wholly based upon imports that it makes from its neighboring countries. The import data of the country covers the aspects like Address of importers, name of Importers, name, and address of suppliers, description of the product, country of origin, quantity, value, price, mode of transport, etc. Due to the coronavirus pandemic, Bangladesh had imported cereals the most in quantity to meet the demand of its population.
Bangladesh Import Data Provider has stated that the top products that Bangladesh imports the most include:
- Mineral Fuels and oils of 7631 million US dollars,
- Mechanical appliances of 4386 million US dollars,
- Cotton of US$ 5965 million,
- Electronics and electrical machinery of 2666 million US dollars,
- Vegetable fats and oils or animal fats and oil of US$ 2585 million between the period of December 2019 to November 2020.
These top imports that the country makes are done with its important import partners where China holds the largest shared value of 24.07%, India of 12.48%, Singapore of 5.71%, and the USA with 4.66%. Other than these countries, Indonesia has 4.49% shared value, Brazil with 4.23%, Japan with 3.91%, and many more countries like Malaysia, South Korea, etc. The major import ports that Bangladesh has to include Chittagong that makes the largest importing activities of around 81.8%, Dhaka of 6.82%, Jessore of 2.57%, and many other ports during the period 2019-2020.
|