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Bangladesh imports more than a quarter of needs from China

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The country’s 67 per cent imports are now coming from top 10 source countries. In the last fiscal year (FY) 2015-16, total exports were valued at $36.75 billion, exclusive of that of the Export Processing Zones, according to the Bangladesh Bank (BB) data.The actual import payments, in free on board value, stood at $39.71 billion in FY16, when China, followed by India was the largest source country of imports.In the last fiscal year, imports from China stood at $9.64 billion which was $8.23 billion in FY15.  Thus, China’s share in total imports stood at 26 per cent.Bangladesh’s imports from India, however, slid to $5.45 billion in the last fiscal year from $5.82 billion in FY 2014-15. Imports from India constituted 15 per cent of the total imports in Bangladesh.Singapore was the third largest exporters of goods to Bangladesh in FY 2015-16. Imports from the city-state stood at $1.96 billion in the last fiscal year followed by Japan from where products worth $1.60 billion were imported.Indonesia ranked fifth as an import partner from where goods worth $1.22 billion were purchased in the last FY. The United States (US) has emerged as the sixth largest import source.The imports from the US jumped up by around 46 per cent in the last fiscal year to $1 billion from $690.6 million in FY15.Brazil is the eighth, Malaysia the ninth and Hong Kong the tenth largest importer partner of the South Asian country.Bangladesh’s value of imports from these countries stood at $952.3 million, $951 million and $806.6 million respectively in the last fiscal year.