Import LC Openings Fall to $5.17 Billion

Bangladesh is projected to remain the world’s top cotton importer in MY2025-26, with imports reaching 8.5 million bales, ahead of Vietnam’s 8 million, according to the USDA. This surge aligns with a 10.86% year-on-year rise in Bangladesh’s RMG exports to $30.25 billion in the first 10 months of FY25.

Bangladesh's imports from Pakistan rose nearly 10% in 2024, reaching 19.14 lakh tonnes, driven by direct shipping and relaxed customs rules. The launch of the Karachi–Chattogram direct route in November 2024 cut delivery time from 30 to 11 days, slashing costs by a third. The National Board of Revenue (NBR) also eased customs inspections

In FY24, Bangladesh earned Tk 1,499 crore in tariff revenue from US imports, accounting for just 1.5% of its total Tk 100,819 crore import revenue. During the July–March period of FY25, revenue from US imports stood at Tk 1,010 crore, less than 2% of the Tk 64,439 crore total.

Bangladesh has met 76% of its FY25 rice import target, bringing in 0.38 million tonnes out of the planned 0.50 million tonnes, with shipments from India, Pakistan, Myanmar, and Vietnam. The food ministry has now extended the import target to 0.90 million tonnes until December.

Bangladesh plans to increase US cotton imports to avoid potential tariffs under the Trump administration, which has imposed high duties on various countries. Despite facing a 15.62% duty, Bangladesh’s exports to the US remain strong.

India's share in Bangladesh's trade has declined since April 2024 due to import restrictions and consumer boycotts, while China’s share has grown. According to BBS data, India’s import share fell from 16.29% in March to 11.81% in July, whereas China’s rose from 23.48% in April to 29.36% in July.