Bangladesh had a trade deficit with 58 countries in the 2024-25 fiscal year, with China and India accounting for the largest shares, Commerce Minister Khondkar Abdul Muktadir told parliament on Tuesday.
The minister disclosed the information during the budget session in response to a written question from MP Sabikun Nahar.
Bangladesh’s single largest trade deficit is with China, amounting to $17.87 billion. The massive deficit is primarily due to high imports of heavy machinery, electronic goods, industrial raw materials, and capital goods from China. In contrast, Bangladesh’s exports to China during that period stood at only $694.49 million.
India follows second with a trade deficit of $7.86 billion. Bangladesh exported only $1.76 billion worth of goods to India, while imports of cotton, chemicals, food items, and consumer goods created the wide gap, the minister said.
Bangladesh also recorded significant trade deficits with Southeast Asian countries, reflecting dependence on imports of intermediate goods and industrial raw materials. The largest deficit in the region was with Indonesia at $3.59 billion, followed by Singapore at $2.80 billion and Malaysia at $2.01 billion.
Deficits with Vietnam and Thailand stood at $799.74 million and $723.85 million respectively.
Among Middle Eastern energy exporters, Bangladesh incurred deficits with Qatar ($2.11 billion), Saudi Arabia ($1.36 billion), the UAE ($1.19 billion), and Oman ($219.66 million). In East Asia, deficits included Taiwan ($803.98 million), South Korea ($740.02 million), Japan ($489.30 million), and Hong Kong ($199.35 million).
Pakistan accounted for a $681.30 million deficit in South Asia. In Europe and Eurasia, Russia and Switzerland recorded deficits of $1.26 billion and $414.39 million respectively. Brazil led South American deficits at $2.45 billion, followed by Argentina and Paraguay.
In Africa, deficits ranged from $511.95 million with Morocco to $91.88 million with Nigeria. Oceania deficits stood at $320.19 million with Australia and $297.97 million with New Zealand.
The minister noted that the country’s bilateral trade deficit is largely concentrated among a few key trading partners, driven by structural dependence on imports of raw materials, energy products, and capital machinery.
