Imports from India Rise 3.9% but Exports Fall 6%

Bangladesh’s fresh fruit imports fell to $128.51 million in the first half of FY25, the lowest in three years, due to the taka’s depreciation and high import duties. Letters of credit (LC) openings for fruit imports declined 3.29% year-on-year to $140.5 million in July-December FY25.

In 2024, Bangladesh's apparel exports to the European Union grew by 4.8%, reaching €18.27 billion, up from €17.44 billion in 2023. This marks a recovery from previous setbacks, aided by factors like duty-free market access, improved workplace safety, and quality products.

In January 2025, Bangladesh saw a 5.4% YoY decline in import LC openings, totaling $6.13 billion, due to lower demand and overdue LC payments. Weaker banks struggled to open new LCs, while state-owned banks prioritized clearing past dues.

Bangladesh's imports grew 3.53% YoY to $32 billion in H1 FY25, rebounding from a 20% decline the previous year, driven by higher exports and remittances. December 2024 saw a 30% YoY surge in imports, supported by increased industrial raw material demand for export-oriented industries.

Over the past 16 years, Bangladesh’s trade relations with Pakistan were strained under the Awami League government, but a shift is occurring following a change in government. Trade with Pakistan has increased, while trade with India has slightly decreased.

Bangladesh’s merchandise exports grew 5.7% year-on-year in January 2025, reaching $4.43 billion, primarily driven by a 5.57% rise in readymade garment (RMG) exports to $3.66 billion, according to EPB data. Total exports in the first seven months of FY25 rose nearly 12% to $28.96 billion, compared to $25.93 billion in FY24.