US Surpasses India as Bangladesh’s Second-Biggest Trade Partner
The United States has become Bangladesh’s second-largest trading partner, overtaking India. According to data from the National Board of Revenue (NBR), Bangladesh’s total trade with the United States reached $12.67 billion in the last fiscal year. In comparison, trade with India stood at $10.72 billion. With this gap, the United States has moved ahead of India to secure the second position, while China has retained the top spot as usual.
The change has been driven by a rise in imports from the United States. Over the past year, imports from the US increased by nearly 43 percent to $3.56 billion. To cope with pressure from US tariff policies, Bangladesh adopted a strategy of importing more agricultural products and energy from the United States.
As a result, imports of wheat, soybean seeds, cotton and liquefied natural gas (LNG) from the US increased sharply. In addition, the decision to purchase 14 aircraft from US aircraft manufacturer Boeing also played a major role in increasing bilateral trade.
On the other hand, trade between India and Bangladesh has declined to some extent. The situation resulted from various rules and countermeasures taken by the two countries since last year.
Bangladesh stopped importing yarn from India through land ports. In response, India also withdrew a special facility that allowed Bangladeshi goods to be transported to other countries through Kolkata airport. Overall, although some distance has emerged in trade between the two neighbouring countries, Dhaka’s economic and trade relations with Washington have grown stronger.
