Trade Scenario Between Bangladesh and India

The bilateral Trade Agreement between Bangladesh and India was first signed in 1972 and has been renewed at regular intervals, the latest being 06 June 2015. Bangladesh and India enjoys excellent bilateral trade and economic relations. Being the second largest trading partner of Bangladesh, next to China, and being the members of SAARC, Bangladesh and India cooperate both bilaterally and multilaterally to strengthen commerce and trade. Over the period of last 7 (seven) years, bilateral trade has registered an impressive growth. Total trade between the two countries increased from USD 5.1 billion in fiscal year 2010-2011 to USD 9.5 billion in 2017-18. However, this growth was mainly driven by substantial increase of import of industrial raw materials and consumer goods into Bangladesh from India. India now ranks 2nd in the list of importing countries of Bangladesh, next to China. Being a SAARC LDC, Bangladesh enjoys duty free and quota free market access for all products except 25 tariff lines (alcohol, tobacco and drugs) to India under SAFTA. This has created immense opportunity for Bangladesh to further enhance trade with India. Despite Bangladesh’s serious efforts, export to India has not increased significantly mainly due to some challenges with regard to product diversification, product standardization, infrastructure at the land port, road and shipping connectivity, Para-tariff and non-tariff barriers, which need proper attention and intervention.

The main items exported from Bangladesh to India are:

Raw jute, Jute goods, Jute yarn & twine, Cane molasses,  Engineering products, Furnace oil, Frozen fish, Sacks & bags, Cement, Betel nuts, Knit & woven garments, , Cut flower, Rice bran oil, Copper wire, Agro processed Food , Soap & Toiletries, Jamdani Saree, Mosquito net, Accumulator battery etc.

The main items imported from India into Bangladesh are: Live animals, food stuff, vegetables, spices, mineral products, products of the chemical or allied industries, plastic and articles thereof, textiles & textiles articles, pulp of wood, articles of stone, base metals, vehicles & transport equipment, machineries etc.

Total trade and Balance of Trade:

The existing balance of trade between Bangladesh and India (in Million US Dollar):

FY

Import from India

Export to India

Balance of Trade

Total Trade

2010-2011

4586.80

512.50

-4074.30

5099.30

2011-2012

4743.30

498.42

-4244.88

5241.72

2012-2013

4740.65

563.96

-4176.69

5304.61

2013-2014

6035.48

456.63

-5578.85

6492.11

2014-2015

5827.55

527.16

-5300.39

6354.71

2015-2016

5450.70

689.62

-4761.08

6140.32

2016-2017

6146.25

672.41

-5458.12

6802.94

2017-2018

8619.40

873.27

-7746.13

9492.67

2018-19

9210.00

1040.00

-8170.00

10,250.00

*   Source: Export Promotion Bureau& Bangladesh Bank

 

Top 20 Exported Item in India for the year 2020-2021:    

Sl

HS Code and Product Name

Amount In USD

1

15159000: Oth.Fixed Veg.Oil,Fats & Frac.,Nes(Ex.Maize/Castor/Tung/Sesamre/Jojobaoil)

156,755,502.83

2

62034200: Men'S Or Boys' Bib & Brace Trousers, Breeches, Shorts, Of Cotton

76,136,679.24

3

63109000: USED OR NEW RAGS, SCRAP TWINE, CORDAGE, ROPE AND CABLES AND WORN OUT ART..,EXCL. SORTED

52,012,100.25

4

03027990: Other than Eels, EXCL. Wrapped/canned upto 2.5 Kg

39,092,386.08

5

61091000: T-Shirts, Singlets And Other Vests, Of Cotton, Knitted Or Crocheted

36,779,972.13

6

62052000: Men'S Or Boys' Shirts Of Cotton

36,628,614.34

7

53031000: Jute and other textile bast fibres, raw or retted

32,523,009.37

8

72042100: Waste and scrap of stainless steel

32,167,210.03

9

53101000: Unbleached woven fabrics of jute or of other textile bast fibre

29,885,696.98

10

53072000: Multiple (folded) of cabled

25,703,889.84

11

62046200: Women'S Or Girls' Trousers, Breeches, Etc, Of Cotton

23,942,181.21

12

42021200: Trunks, Suit-Cases..., Etc, With Outer Surface Of Plastic Or Textiles

22,075,942.07

13

62034900: Men'S Or Boys' Bib&Brace Trousers,Breeches & Shorts Of Other Textiles,Nes

21,737,670.34

14

53071000: Single yarn of jute or of other textile bast fibres of 53.03

21,584,623.39

15

15079010: Refined Soya-Bean Oil

19,164,439.98

16

64041900: Sports Footwear, With Rubber Or Plastic Soles And Textile Uppers

18,655,598.13

17

22029900: Waters, including mineral waters and aerated waters...Excl. Non-alcoholic beer

18,554,131.28

18

63051000: Sacks And Bags, Used For Packing Goods, Of Jute, Etc

18,388,107.44

19

03028999: Other than Hilsha fish  (EXCL.wrapped/canned upto 2.5 kg )

18,257,993.39

20

61103000: JERSEYS,PULLOVERS,CARDIGANS,WAISTCOATS.., KNITTED OR CROCHETED OF MAN-MADE FIBRE

17,637,513.08

                                                                                   Total Export Amount: 1279669865.41 USD


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