Bangladesh

Bangladesh ranked No. 45 in total trade value through May with a total of $3.41 billion. Exports totaled $825.94 million and Imports totaled $2.58 billion, a deficit of $1.75 billion.

U.S. trade with Bangladesh rose to $3.06 billion through May

Bangladesh’s trade with the United States rose to $3.06 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 10.76 percent above its total trade during the same time period last year. U.S. exports to Bangladesh increased 52.66 percent while U.S. imports from Bangladesh rose 2.39 percent. The U.S. deficit with Bangladesh was $1.66 billion.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Savannah, Ga.; No. 2 Port of Newark; No. 3 Port of Los Angeles; No. 4 Port of Virginia; and No. 5 Port of Tacoma, Wash.. During the same period the previous year, the top five were No. 1 Port of Newark; No. 2 Port of Savannah, Ga.; No. 3 Port of Los Angeles; No. 4 Port of Virginia and No. 5 Port of Charleston. In the current time period, the top five accounted for 69.31 percent of Bangladesh’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Savannah, Ga. fell 2.65 percent to $710.83 million.
    Exports fell 11.29 percent to $116.28 million. Imports fell 0.76 percent to $594.55 million.
  • Trade with No. 2 Port of Newark fell 27.31 percent to $672.12 million.
    Exports fell 8.47 percent to $3.22 million. Imports fell 27.39 percent to $668.9 million.
  • Trade with No. 3 Port of Los Angeles fell 10.05 percent to $624.91 million.
    Exports fell 17.85 percent to $57.22 million. Imports fell 9.18 percent to $567.69 million.
  • Trade with No. 4 Port of Virginia rose 21.39 percent to $240.98 million.
    Exports fell 21.69 percent to $13.8 million. Imports rose 25.58 percent to $227.18 million.
  • Trade with No. 5 Port of Tacoma, Wash. rose 0.5 percent to $111.29 million.
    Exports rose 23.55 percent to $36.4 million. Imports fell 7.85 percent to $74.89 million.

Bangladesh ranked No. 45 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 46.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Bangladesh by value through May were the categories of Soybeans; Cotton; Scrap iron, steel; Wheat; and LNG, other petroleum gases, respectively. They accounted for 73.71 percent of total exports to Bangladesh.

The value of the top five categories of U.S. imports from Bangladesh –– Men’s or boys’ slacks, suits, not knit; Women’s or girls’ suits, not knit; Men’s or boys’ shirts, not knitted or crocheted; Sweaters, pullovers, vests, knit or crocheted; and T-shirts, tank tops, knit or crocheted –– accounted for 58.51 percent of all inbound shipments.

Looking more closely at U.S. exports to Bangladesh:

  • Soybeans rose 98.48 percent compared to last year to $185.23 million.
  • Cotton fell 3.64 percent compared to last year to $170.66 million.
  • Scrap iron, steel rose 40.08 percent compared to last year to $152.96 million.
  • Wheat rose 646.2 percent compared to last year to $64.6 million.
  • LNG, other petroleum gases totaled $35.33 million. The previous year, there were no exports in this category.

Looking more closely at U.S. imports from Bangladesh:

  • Men’s or boys’ slacks, suits, not knit fell 20.77 percent compared to last year to $640.93 million.
  • Women’s or girls’ suits, not knit fell 12.36 percent compared to last year to $400.69 million.
  • Men’s or boys’ shirts, not knitted or crocheted fell 16.82 percent compared to last year to $226.61 million.
  • Sweaters, pullovers, vests, knit or crocheted fell 15.94 percent compared to last year to $126.39 million.
  • T-shirts, tank tops, knit or crocheted rose 4.86 percent compared to last year to $114.63 million.

In the latest annual figures available, Bangladesh recorded $9.01 billion in trade with the United States. Total U.S. exports to Bangladesh were $ 2.33 billion and imports from Bangladesh were $6.69 billion. The U.S. deficit with Bangladesh was $4.36 billion.