Goods trade with the world crosses $110b in 2021

| Updated: February 03, 2022 10:36:32

Goods trade with the world crosses $110b in 2021

The country’s bilateral trade in goods with the rest of the world crossed US$110 billion in the last calendar year, showed the FE estimation based on statistics of exports receipts and imports payments in 2021.

Statistics released by the Export Promotion Bureau (EPB) showed that the annual exports earnings of Bangladesh stood at $44.23 billion in the last year which was $33.61 billion in 2020.

Thus exports earnings rebounded significantly by increasing 31.64 per cent in 2021.

Payments for imports of goods, on C&F basis, stood at $72 billion in the first 11 months of the past year which was 36.40 per cent more than the annual imports payments in 2020.

Imports payments figure for December last is yet to be available.

By adding 12 months' exports receipts and 11 months' imports payments of the last year, it is found that the value of total trade in goods stood at $116.23 billion in 2021. The actual amount will be higher once the imports figure for December is available.

In 2020, the value of trade in goods was recorded at $86.40 billion. Thus, trade in goods increased by 34.50 per cent in the past year from the previous year.

Bangladesh’s global trade in goods declined by around 12.20 per cent in 2020 from $98.50 billion in 2019 due to the pandemic.

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