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Trade Scenario Between Bangladesh and Japan

Bangladesh and Japan have been maintaining a good bilateral trade relationship. Although exports from Bangladesh to Japan have been increasing steadily, the balance of trade has always been in favour of Japan.  The trade balance between Bangladesh and Japan is shown below(Value in million US$)

Fiscal Year
Export

Export Growth(%)
Import
Balance

2010-11

434.12

 

1308.40

(-) 874.28

2011-12

600.53

(+) 38.33

1456.10

 (-) 855.57

2012-13

750.26

(+) 24.93

1180.20

(-) 429.94

2013-14

862.08

(+) 14.90

1290.70

(-) 428.62

2014-15

915.22

(+) 6.16

1514.00

(-) 598.78

2015-16

1079.55

(+) 17.96

1604.10

(-) 524.55

2016-17

1012.98

(-) 6.17

1833.40

(-) 820.42

2017-18

1131.90

(+) 11.74

1869.50

(-) 737.60

2018-19

1365.74

(+) 20.66

1852.50

(-) 486.80

2019-20

1200.78

(-) 12.07

1669.10 (p)

-468.32

2020-21

1183.64

(-) 9.75

2001.20

(-) 817.56

2021-22

1353.85

(+) 14.38

2435.80

(-) 1081.95

2022-23

1901.58

(+) 40.46

2037.0

(-) 135.42

2023-24

1313.34

(-) 44.78

1810.3

(-) 496.96

2024-25

1411.59

(+)6.96

1874.5

(-) 462.91

 

It transpires from the above table that the balance of trade has always been in favour of Japan.

3.0       Bangladesh Export to Japan :

Bangladesh has been exporting to Japan since a long time. The major items that we export to Japan includes woven garments, knitwear, shrimps, leather & leather footwear,  jute manufactures, camera parts, jute yarn & twine. Bangladesh’s export to Japan during 2019-2020 may kindly be seen at Annexure-A. From the attached statistics, it appears that items like woven garments, knitwear, shrimps, leather, shoe, jute manufactures, jute yarn & twine, other engg. product have been playing a vital role in increasing our export earning from Japan.

4.0       Bangladesh Import from Japan :

 The major items that we import from Japan include iron and steel, vehicles , machineries, copper, electrical & electronic equipments, photographic & cinematographic goods etc.

5.0       Duty free Access:

Japan has provided duty free market access to most of our products including RMG under GSP Scheme which helped creating markets of our products in Japan. But they did not give us this

opportunity for our leather hand gloves and a few products. But Japan can be one of the biggest market of our RMG. At Present China is the biggest supplier of RMG in Japanes market. But China has switched over to high value added products. Bangladesh could fill the vaccum created by China.

6.0       To promote Bangladesh export to Japan Export Promotion Bureau is regularly participating in the following fairs:

  1. Fashion world;
  2. IFF sourcing (Summer & Spring);
  3. Gift show;
  4. International life style;
  5. Foodex Japan

7.0       For Promotion of export to Japan, the following measures have to be under taken:

1.

Bangladesh is a major exporter of apparel. So, steps need to be taken to intensify our efforts to penetrate effectively into Japanese apparel market through participation in International Trade  Fairs,  Buyer – Seller Meet and Contact Promotion Program.

2.

Leather and Leather Product have enormous potential in Japanes market.We should intensity market promotion drive to boost our export of these products in Japan.

3.

JETRO and EPB Bangladesh are members of the Asian Trade Promotion Forum (ATPF) and maintaining a good working relationship. We may also tap the Japanese policy in the South- East Asia for enhancing our export to Japan.

4.

Marketing mission comprising both private and public sectors need to be sent on a regular basis in prospective areas where Bangladeshi products are likely to have access to the highly competitive Japanese market;

5.

Trade creating investment with buy-back arrangement may be one of the strategies for development of trade with Japan considering the limited number of products in our export basket. Some of the areas of investments where there is a great potential for investment are Light Engineering products, Textiles, Agro-processing products, Auto-mobile, ICT  and Jute Products.

 

The export potential of Bangladesh’s current export commodities to Japan (top ten items)

Hs Code

Export Potential (Million USD)

Actual Exports from Bangladesh (Million USD)

Untapped Potential (Million USD)

Applied tariff by Japan (%)

japan's Import from World (Million USD)

Bangladesh's Export to the World (Million USD)

610910

356.6

127.2

229.4

0.0

1300.0

5600.0

620342

243.3

153.0

90.3

0.0

742.8

5500.0

611020

136.7

80.4

56.3

0.0

1200.0

2700.0

611030

132.2

126.1

7.1

0.0

2200.0

2300.0

620462

129.0

84.5

44.5

0.0

727.7

3400.0

620520

91.3

39.7

51.6

0.0

471.7

1800.0

610990

53.7

72.5

.

0.0

1200.0

780.7

620343

52.3

22.9

29.3

0.0

738.0

676.3

0306Xb

43.5

18.2

25.3

0.0

1600.0

382.3

620530

40.1

29.5

10.6

0.0

286.9

317.7

 

Annxure A

2024-25                                                                                                                                                                  Value in US$

JP: Japan

1,411,595,090

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

225,532,530.65

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

182,383,670.29

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

92,112,171.51

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

78,623,015.89

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

67,432,385.49

62034300: Men'S Or Boys' Bib & Brace Trousers, Breeches & Shorts Of Synthetic Fibres

56,019,015.35

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

33,557,878.09

61099000: T-Shirts, Singlets, Etc, Of Other Textiles, Nes, Knitted Or Crocheted

33,028,614.47

62024000:

31,629,025.08

62052000: Men'S Or Boys' Shirts Of Cotton

27,117,382.53

62014000:

22,580,515.90

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

20,997,681.06

62046900: Women'S/Girl'S Trousers,Breeches,Etc,Of Oth.Tex.,(Exl.Wool,Cotton,Syn.Fib.

20,239,601.22

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

19,688,077.04

42022100: Handbags With Outer Surface Of Leather, Or Composition Leather

16,908,609.10

42022900: Handbags, Nes

16,187,929.15

61034300: Men'S Or Boys' Trousers, Etc, Of Synthetic Fibres, Knitted Or Crocheted

15,812,888.17

74040000: Copper Waste And Scrap

15,721,341.89

62046300: Women'S Or Girls' Trousers, Breeches, Etc, Of Synthetic Fibres

15,459,580.36

94019900:

15,396,534.43

 


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