The Brief Insights of the Bangladesh Import Market in 2024

 The import market of Bangladesh has steadily increased over the years because of the growing domestic acquisitions in different central areas. The competitive pricing strategies adopted by the trade management authorities of Bangladesh and the strategic locations serving as a road towards the leading destination estimates are recording a pivotal growth of the overall GDP value via the annual revenue of the import market. Bangladesh Export Data says the huge demand for goods such as food products and consumer goods as the traded goods relying upon the foreign traders.

Due to the favorable government policies and the trade agreements signed between Bangladesh and other trade estates the import valuation of the nation has stood up with the staggering weight of 60 billion US dollars in 2024 expected to continue its upward trajectory in the upcoming times. Import Globals with its Bangladesh Import Data highlights the regional shipments from the foreign trade estates towards Bangladesh for facilitating the proper understanding of the latest trade trend strategies.

TOP 10 IMPORTS OF BANGLADESH IN 2024

The country’s strategic location at the competitive labor cost has recorded a significant hike in the import market revenue. According to the Bangladesh Import Data, the top 10 imported goods of the nation in 2024 are,

  1. Machinery and mechanical appliances — Import trade value of Machinery and mechanical appliances imported in Bangladesh 2024–24 billion US dollars
  2. Mineral fuels — Import trade value of Mineral fuels imported in Bangladesh 2024–18 billion US dollars
  3. Electrical machinery and equipment– Import trade value of Electrical machinery and equipment imported in Bangladesh 2024–12 billion US dollars
  4. Iron and Steel– Import trade value of Iron and Steel import in Bangladesh 2024–9 billion US dollars
  5. Plastic and Plastic articles — Import trade value of Plastic and Plastic articles imported in Bangladesh 2024–7 billion US dollars
  6. Vehicles and parts– Import trade value of Vehicles and parts imported in Bangladesh 2024 — billion US dollars
  7. Agricultural products– Import trade value of Agricultural products imported in Bangladesh 2024–6 billion US dollars
  8. Pharmaceutical products– Import trade value of Pharmaceutical products imported in Bangladesh 2024–5 billion US dollars
  9. Organic chemicals — Import trade value of Organic chemicals imported in Bangladesh 2024–3 billion US dollars
  10. Fertilizers — Import trade value of Fertilizers imported in Bangladesh 2024–1.5 billion US dollars

TOP 10 IMPORT TRADE PARTNERS OF BANGLADESH IN 2024

The cost-effective trade deficiency of the adopted policies by the government firms has introduced different variations in the import market. As per the Bangladesh Customs Data, the top 10 import trade partners of the nation in 2024 are,

  1. China — The total valuation of the goods imported in Bangladesh from China in 2024–28 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Liquefied Natural Gas (LNG)

2. Crude oil

3. Refined petroleum products

4. Machinery and Equipment

5. Electrical machinery

2. India– The total valuation of the goods imported in Bangladesh from India in 2024–19 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Computers and parts

2. Telecommunications equipment

3. Industrial machinery

4. Vehicles

5. Transport Equipment

3. Singapore — The total valuation of the goods imported in Bangladesh from Singapore in 2024–14 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Automobiles

2. Motorcycles

3. Aircraft and spacecraft

4. Chemicals

5. Pharmaceuticals

4. Japan — The total valuation of the goods imported in Bangladesh from Japan in 2024–10 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Fertilizers

2. Plastics

3. Organic chemicals

4. Food and Beverages

5. Rice

5. United States — The total valuation of the goods imported in Bangladesh from the United States in 2024–8 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Wheat

2. Sugar

3. Dairy products

4. Textiles and Apparel

5. Clothing

  1. Malaysia — The total valuation of the goods imported in Bangladesh from Malaysia in 2024–6 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Textile fibers

2. Yarn

3. Metals and Metal Products

4. Iron and steel

5. Aluminum

7. South Korea– The total valuation of the goods imported in Bangladesh from South Korea in 2024–5 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Copper

2. Plastics and Rubber

3. Plastic articles

4. Rubber products

5. Paper and Pulp

8. Indonesia — The total valuation of the goods imported in Bangladesh from Indonesia in 2024–4 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Paper

2. Pharmaceuticals

3. Medicinal and pharmaceutical products

4. Optical instruments

5. Photographic equipment

9. Thailand — The total valuation of the goods imported in Bangladesh from Thailand in 2024–2 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Furniture and Bedding

2. Alcoholic beverages

3. Non-alcoholic beverages

4. Toys and games

5. Sports equipment

10. Vietnam — The total valuation of the goods imported in Bangladesh from Vietnam in 2024–1 billion US dollars

TOP IMPORTS OF BANGLADESH IN 2024

1. Computers and parts

2. Automobiles

3. Motorcycles

4. Crude oil

5. Copper

Comments

Post a Comment

Popular posts from this blog

Overview of the Optical Equipment Import of Vietnam in 2023

Image
The demand for optical equipments in Vietnam has been steadily rising over the years because of the on growing demands from the industrial sectors and other consumer base. The growing awareness about eye care and its vital treatment regarding different fatal diseases is recording a positive impact over the whole eye care import of the nation in 2023 recording an annual growth rate of 10% year from 2019 onwards. Stability in trade relationship with different leading trade destination estates and attractive pricing strategies facilitate the annual import market. The growing domestic acquisitions and the limited production capability of the healthcare industries regarding the production of optical equipment have made the country record an annual import value of 2.3 billion US dollars in 2023. Import Globals with its Vietnam Trade Data highlights the global trade insights of the country’s regional shipments for helping the business holders expand their business worldwide via optimization o...
Read more

Import and Export Procedures in Vietnam 2023

Import Procedures in Vietnam: Import License: Some goods require an import license issued by the relevant authorities in Vietnam. Importers should check whether their products fall under this category. Customs Declaration: Importers must complete customs declarations accurately and submit them along with supporting documents to customs authorities. Vietnam Import Data Customs Clearance: Imported goods must undergo customs clearance procedures, which include inspection, assessment of duties and taxes, and compliance verification. Payment of Duties and Taxes: Importers are responsible for paying import duties, taxes, and other applicable fees based on the classification and value of the imported goods. Documentation: Required documents for importation typically include commercial invoices, packing lists, bill of lading or airway bills, import permits or licenses (if applicable), and certificates of origin. Export Procedures in Vietnam: Export Registration: Some products may require ex...
Read more

Importance of Turkey Import Export in Trade Data Business

Are you planning to do trade business with Turkey? If so, it is very important to know the trade dynamics of the country so that you can make informed business decisions. Here comes the need of Turkey Global Import Export Data details on real-time basis for successful international trade expansion. Turkey Import Data is collected of statistical information about each company’s business activities. It is based on the shipping bills, import bills, invoices and other import export documents. The data provides a bird’s eye view of the commodities that are imported or exported in Turkey. The Turkey import and export data contains information about price, HS code, importers’ details, exporters’ details, custom data, shipment data, competitors’ data, product description and quantity. Know the importance of Turkey import export data 1. The authentic and real-time import export data is used to estimate the consumption pattern of Turkey. The businesses can predict the local demand of commoditi...
Read more