The Bangladesh Trade Portal (BTP) is an official source of all regulatory information relevant to traders who wish to import goods into Bangladesh or export to other countries. The Ministry of Commerce of the Bangladesh Government has established the Portal in order to improve the predictability and transparency of the country’s trading laws and processes.

Trade Scenario Between Bangladesh and Russia

Trade Scenario Between Bangladesh and Russia

Bangladesh and Russia enjoy growing trade relations. There exists huge potential for further enhancement of bilateral trade. Vast potential market and advantage of growing demand of goods could develop into fruitful economic relations with Russia. The trade and economic relations between the two friendly countries initiated by signing a General Trade Agreement (GTA) signed on 31.03.1972 between Bangladesh and the former USSR.

Export and Import Statistics Between Bangladesh and Russia ( Value in milliom US$)

Fiscal Year

Export

Import

Balance

2010-11

96.95

153.00

-56.05

2011-12

133.25

337.90

-204.65

2012-13

208.29

335.30

-127.01

2013-14

283.35

286.40

-3.05

2014-15

294.57

221.50

73.07

2015-16

314.29

280.30

33.99

2016-17

464.62

465.64

(1.02)

2017-18

485.23

629.80

(144.57 )

2018-19

548.26

652.80

( 104.54 )

2019-20

487.29.

781.90

( 294.61)

2020-21

665.32

481.90

183.42

2021-22

638.31

474.20

164.11

2022-23

460.39

 

 

2023-24

394.33

862.5

(468.17)

 

  • Main export commodities of Bangladesh to Russia: Shrimps, Knitwear, Woven garments, Jute, Jute yarn and twine, Home textile, Ceramic tableware, Leather, etc.
  • Main export commodities of Russia to Bangladesh: Products of Chemical and allied industries, Fertilizers, Corns (wheat), Steel metal, Machinery & mechanical appliances, electrical equipment,  Vehicles, Aircrafts, Vessels, Vegetables products, etc.
  • Russia is member of the Eurasian Economic Union (EAEU), which is an international organization for regional economic integration. It has international legal personality and is established by the Treaty on the Eurasian Economic Union. The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonized and single policy in the sectors determined by the Treaty and international agreements within the Union. The Member-States of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.

Key Sectors for Investment:

  • Key sectors for investment are : Ship-building. Business Process Outsourcing (BPO) , frozen fish, leather and leather products, ceramics, agro-based industries, pharmaceuticals, tourism, Agro-based business, plastic, Furniture, Home textile, Jute & jute products , IT Sector etc.
  • A Nuclear Power Plant with total capacity of 2,400 MW is under construction at Rooppur with the technical and financial supports of Russia. The project is scheduled to be completed by 2025. Russia offered US $500 million credit for the project.
  • Though we enjoy very excellent bilateral relations, trade between our two countries is still insignificant in spite of existence of much potential. In the last year (2019-20), export to Russia was of US$ 487.29 million, while import from Russia was of US$ 781.90 million. That means, total volume of bilateral trade was only US$ 1269.19 million. So, there is ample scope to enhance trade between the two countries.

Top 20 Exported Item in Russia for the year 2023-2024:    

Sl

Item Name

Amount in USD

1

61091000: T-Shirts, Singlets And Other Vests, Of Cotton, Knitted Or Crocheted

101,356,016.85

2

62034200: Men'S Or Boys' Bib & Brace Trousers, Breeches, Shorts, Of Cotton

43,495,322.66

3

62046200: Women'S Or Girls' Trousers, Breeches, Etc, Of Cotton

39,952,303.64

4

61102000: JERSEYS, PULLOVERS, CARDIGANS, WAISTCOATS & SIMILAR ART., KNITTED OR CROCHETED OF COT

29,644,974.05

5

62052000: Men'S Or Boys' Shirts Of Cotton

16,747,959.15

6

61046200: Women'S Or Girls' Trousers, Etc, Of Cotton, Knitted Or Crocheted

16,489,004.80

7

61034200: Men'S Or Boys' Trousers, Etc, Of Cotton, Knitted Or Crocheted

15,214,655.70

8

61103000: JERSEYS,PULLOVERS,CARDIGANS,WAISTCOATS.., KNITTED OR CROCHETED OF MAN-MADE FIBRE

11,988,443.35

9

61051000: Men'S Or Boys' Shirts Of Cotton, Knitted Or Crocheted

10,194,555.01

10

61112000: Babies' Garments, Etc, Of Cotton, Knitted Or Crocheted

9,687,597.09

11

53072000: Multiple (folded) of cabled

9,032,847.75

12

62063000: Women'S Or Girls' Blouses, Shirts/Blouses Of Cotton

6,446,109.86

13

61044200: Dresses Of Cotton, Knitted Or Crocheted

6,178,028.80

14

53071000: Single yarn of jute or of other textile bast fibres of 53.03

5,389,270.63

15

61071100: Men'S Or Boys' Underpants And Briefs Of Cotton, Knitted Or Crocheted

4,581,451.32

16

03061700: Other shrimps and prawns

3,868,235.01

17

61061000: Women'S Or Girls' Blouses, Etc, Of Cotton, Knitted Or Crocheted

3,496,435.00

18

62053000: Men'S Or Boys' Shirts Of Man-Made Fibres

3,195,144.29

19

56079000: Twine, cordage, ropes and cables, whether or not plaited .. with rubber or pla

3,115,058.65

20

62043200: Women'S Or Girls' Jackets And Blazers Of Cotton

2,492,311.39

Total Export Amount:   394,337,378 USD


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