China and Bangladesh are two countries with a significant economic relationship. Over the years, Bangladesh has become increasingly reliant on China for its imports, sourcing a diverse range of products from Chinese manufacturers. In this report, we will analyze the volume of products sourced from China by Bangladesh, presenting key importing data and insights on this economic relationship.
Volume of Products Sourced from China:
Bangladesh’s imports from China have been increasing steadily over the years. In 2020, Bangladesh imported goods worth $16.15 billion from China, which accounted for 29.11% of its total imports. This represented a significant increase from the previous year, where Bangladesh imported goods worth $13.91 billion from China.
Bangladesh sources a diverse range of products from China, with the major categories being electronics, textiles, machinery, and chemical products. In 2020, the top five products imported by Bangladesh from China were:
Electrical machinery and equipment
Knitted or crocheted apparel and clothing accessories
Articles of apparel and clothing accessories, not knitted or crocheted
Nuclear reactors, boilers, machinery, and mechanical appliances
Plastics and articles thereof
Insights on the Economic Relationship:
China’s economic influence in Bangladesh has been steadily growing, with China becoming a major trading partner and a significant source of foreign direct investment. In 2020, China was the largest investor in Bangladesh, with an investment of $1.1 billion.
The increasing trade between China and Bangladesh has also led to the growth of several industries in Bangladesh, particularly in the textile and apparel sector. China’s expertise in manufacturing and technology has helped Bangladesh to develop its manufacturing capabilities and increase its competitiveness in the global market.
Conclusion:
The volume of products sourced from China by Bangladesh has been steadily increasing over the years, with China becoming a significant trading partner and source of foreign investment for Bangladesh. The diversity of products sourced from China by Bangladesh is a testament to the strength of their economic relationship. As China continues to invest in and trade with Bangladesh, we can expect this economic relationship to grow even stronger in the future.
In summary, Bangladesh’s reliance on China for its imports has been increasing steadily over the years, with the two countries sharing a significant economic relationship. The insights presented in this report give us a glimpse of the extent of trade between these two countries and how their economic relationship has been evolving.
