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Sweden abroad Bangladesh

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Trade between Sweden and Bangladesh

Bangladesh is an important and growing Swedish trade partner in Southeast Asia

Sweden and Bangladesh have ties reaching back to the independence. Development cooperation has been a cornerstone of bilateral relations, but as both countries have evolved so has the relationship. Today our ties are multifaceted, dynamic and growing.  Trade and investments have developed in a positive way, albeit from a low level.

Currently, trade with Bangladesh accounts for 0.3% of our total imports. Machinery and apparatuses are the most important export products to Bangladesh, representing around 40% of exports in 2021. Crude materials, mineral fuels, chemicals, paper, iron and steel also represent important Swedish products for export.

The Swedish export reached a peak in 2007 with SEK 2 073 million. This peak was largely a result of an up-scaling of the telecommunications sector and exports to provide equipment to this end. After this investments phase in the telecommunications sector the export has now stabilized on SEK 541 million for 2021, showcasing a steady increase over the last couple of years.

Swedish imports from Bangladesh are steadily growing; total imports in 2021 were SEK 5 401 million, compared to SEK 4 801 million in 2020. It should be noticed that the registered trade statistics underestimate the import figures as Bangladeshi products intended for the Swedish market are often off-loaded in other countries in the European Union.

There is a good potential for increased trade between Sweden and Bangladesh. The positive image of Sweden, as a country with sustainable, innovative and green business, is an important factor when promoting Swedish industries in Bangladesh in areas such as energy, environment, paper pulp and leather-products. Also in the field of textiles, readymade garments, ICT and pharmaceuticals there are further opportunities for growth in our trade relations. For instance, Sweden-Bangladesh collaboration in energy efficient low-emission green technologies for the RMG sector can increase the share of sustainable textile manufacturing locally, making Bangladesh more competitive globally. Apart from that, Swedish companies can also leverage ample opportunities in rapidly growing digital Bangladesh, given booming e-commerce, e-governance, digitalization and online labor.

For Swedish exporters and importers who are interested in trading with Bangladesh or Swedish investors in establishing a presence in Bangladesh, you are welcome to contact Business Sweden - The Swedish Trade and Invest Council in New Delhi, that also covers the market in Bangladesh.  The Swedish Embassy in Dhaka is also a point of entry in this regard. Contact information is available on Trade with Sweden section.

 

Statistics of export-import

Last updated 01 Feb 2021, 1.43 PM