Thai-Bangladesh trade posts over 40% growth in 2021

With Thailand and Bangladesh slowly overcoming the impact of the Covid-19 pandemic, the trade relations between the two countries posted over 40% growth in 2021 compared to the previous year 2020, sources said.

Thai exports to Bangladesh were recorded at $1231.9 million while Bangladesh’s export to Thailand was recorded at only $54.84 million in the 2021 calendar year, according to the statistics of the Thai trade commission.    

Thai export to Bangladesh was recorded at $859.23 million in 2020 while Bangladesh’s export to Thailand was recorded at $50.82 million during the same year. The bilateral trade between Bangladesh-Thailand recorded $1067.9 million in 2019, $1259.45 million in 2018 and $1317.43 million in the 2017 calendar year.   

The World Bank (WB) also forecast 3.1% growth in the Thai economy this year while the growth is expected to post 4.1% in 2023.

While talking to this correspondent, a director of the Thai-Bangladesh Chamber of Commerce and Industry (TBCCI) said Bangladesh’s export basket is highly dependent on readymade garments that share over 80% of the country’s exports.

Bangladesh’s export earnings crossed $52.08 billion in the outgoing fiscal year 2021-22 on the back of a record shipment by the readymade garments sector.

In July-June, the country’s apparel shipments recorded $43.34 billion, sharing more than 81% of the country’s exports, according to sources at the EPB.

Knitwear and woven apparel exports reached $23.21 billion and $19.19…