BD’s dependence on commodity export, import low

Bangladesh is one of the 32 developing countries classified as both the ‘low commodity-export-dependent’ and ‘low commodity-import- dependent’. 

The Commodities and Development Report 2017, prepared and released by the United Nations Conference on Trade and Development (UNCTAD), made the classification.

In the report, the commodity dependence refers only to commodities exported and imported, and does not include cases where national diets rely heavily on one or a few food staples produced and consumed nationally.

The report also mentioned that commodity dependence is particularly prevalent among the group of Least Developed Countries (LDCs), where 79 per cent were commodity-export-dependent and 56 per cent were commodity-import-dependent during 1995-2014.

It also pointed out that the link between commodity dependence and human development is a highly relevant aspect of development policy.

According to the report, 64 per cent of the developing countries are commodity-export-dependent and 45 per cent are commodity-import-dependent.