Bangladesh's trade deficit with China, India is the highest respectively: Minister

Bangladesh recorded trade deficits with 58 countries in the financial year 2024–25, with China and India emerging as the largest contributors, according to information placed in Jatiya Sangsad.

Replying to a written question from reserved seat lawmaker Sabikun Nahar, commerce minister Khandakar Abdul Muktadir said the country’s bilateral trade imbalance remains heavily concentrated among a small number of major trading partners, reflecting structural import dependence on industrial inputs, energy products and raw materials.

The data shows that China remained the single largest source of Bangladesh’s trade deficit, standing at $17.87 billion, driven by heavy imports of machinery, electronics, industrial raw materials and capital goods, while exports amounted to only $694.49 million.

India ranked second with a trade deficit of $7.86 billion, as Bangladesh imported significantly higher volumes of cotton, chemicals, food products and consumer goods compared to exports worth $1.76 billion.

Among Southeast Asian economies, Indonesia recorded a deficit of $3.59 billion, followed by Singapore at $2.80 billion and Malaysia at $2.01 billion, underscoring the region’s role as a key supplier of intermediate goods and industrial inputs.

Vietnam and Thailand also contributed notable gaps, with deficits of $799.74 million and $723.85 million respectively.

In the Middle East, Bangladesh posted substantial trade deficits with energy-exporting economies, including Qatar ($2.11 billion), Saudi Arabia ($1.36 billion), the United Arab Emirates ($1.19 billion) and Oman ($219.66 million).

East Asian partners also featured prominently in the deficit profile, with South Korea recording $740.02 million, Japan $489.30 million, Taiwan $803.98 million and Hong Kong $199.35 million.

Within South Asia, Bangladesh recorded a trade deficit of $681.30 million with Pakistan.

In Europe and Eurasia, Russia accounted for a deficit of $1.26 billion, while Switzerland recorded $414.39 million.

Brazil posted the largest deficit at $2.45 billion, followed by Argentina $763.13 million and Paraguay $83.70 million.

Across Africa, Bangladesh also recorded widespread but comparatively smaller deficits with countries including Morocco $511.95 million, Benin $464.75 million, Cameroon $272.31 million, Mali $247.11 million, Burkina Faso $195.07 million, Mozambique $97.43 million and Nigeria $91.88 million.

In Oceania, Bangladesh posted deficits with Australia $320.19 million and New Zealand $297.97 million.