By Admin 
On the one hand, China is making deep penetration in Bangladesh economy, on the other hand, Bangladesh’s domestic market has been filled with sugar goods. The latest figures are shocking, more than a quarter of Bangladesh is now being imported from China.
China is robbing Bangladesh
Statistics show that Bangladesh ordered more than 25 per cent of its total imports from China in 2023-24, while six years ago the figure was around 20 per cent. This means that Bangladesh is now becoming more dependent on China in terms of business than before.
China’s dominance in the domestic market
On the one hand, where imports from China have increased, there has been a decrease in exports of Bangladesh from China. In 2018-19, China had 2.1 percent export of Bangladesh, which declined to just 1.6 percent in 2023-24. That is, the demand for Bangladeshi products has come down in the Chinese market.
India remains important business partner
On the other hand, India has increased exports from Bangladesh. It was 3.1 percent in 2018-19, which has now increased to 3.5 percent. This means that the business relationship between India-Bangladesh still remains strong. However, recent rhetoric and new import restrictions have also smelled in relationships.
India’s big role in cotton business
A large part of the cotton needs of Bangladesh is met by India. In 2023-24, India exported a total of $ 9 billion to Bangladesh, out of which only 26 per cent was of cotton, while in 2022-23 the figure was 20.2 per cent. India now supplies 30 per cent of Bangladesh’s total cotton imports, which was 23 per cent in 2018-19.
What does India buy from Bangladesh?
Textile, readymade garments and clothes are still prominent in the goods that India buy from Bangladesh. They hold 56 per cent of India’s imports from Bangladesh in Sector 2023-24, which is around 57 per cent of 2018-19.
But, recently the Government of India has imposed new restrictions on imports from Bangladesh, which has affected trade between the two countries. According to the new instructions of the government, goods like readymade garments will now be able to come only through only two sea ports. This has affected 40 percent of the total trade.