Trade, Commerce and Investment relations of Bangladesh and Portugal


Trade, Commerce and Investment


Bangladesh’s trade with Portugal has been expanding over the years with the trade balance largely in favour of Bangladesh. As Portugal imports most of its goods from Bangladesh through EU mechanism and through other European  ports, exact figures of Bangladesh exports to Portugal are difficult to derive. The statistics of trade between the two countries are given below:


Bangladesh Data

                                                                             

(All amounts in million EUR)

FY

Export (BD to PT)

Import (PT to BD)

Total Trade

2011-2012

48.26

18.20

66.46

2012-2013

41.26

12.80

54.06

2013-2014

57.28

6.30

63.58

2014-2015

53.13

8.10

61.23

2015-2016

64.39

1.90

66.29

2016-2017

80.51

4.50

85.01

2017-2018

86.63

7.75

94.38

2018-2019

106.5

7.50

114.00

2019-2020

81.8

13.50

95.30

2020-2021

75.97

12.10

88.07

2021-2022

105.32

(Yet to be known)

(Yet to be determined)

Source: EPB, and Bangladesh Bank

         


Portuguese Data

                         

  (All amounts in million EUR)

Year

Import of BD from PT

Export of BD to PT

2019

17.94

98.63

2020

12.87

71.01

2021

15.75

79.68

2022(Jan-Sep)

13.52

92.58


Source: Statistics Portugal

                                                            

          

Major export items from Bangladesh to Portugal are woven garments, knitwear, home textile, jute products, leather products, handicraft, potteries, ceramic products, food products,; shrimps; optical, photo, technical, medical apparatus; raw hides and  skins; software and IT products, vegetable textile fibres; footwear, special woven or tufted fabric etc.


Major import items of Bangladesh from Portugal are tanning or dyeing extracts; nuclear reactors, boilers, machinery and mechanical appliances; electrical machinery and equipment; mineral fuels, sulfur, earths and stone, plastering materials, lime and cement, tanning or dyeing extracts, minerals and chemical ships, boats and floating structures etc.


Portuguese importers can import any kind of product at zero rate of duty except arms and ammunition under the Everything but Arms (EBA) provision of GSP scheme of EU.


Apart from traditional items, non-traditional quality products at competitive price from Bangladesh such as pharmaceuticals, ceramics, electronics, ICT products, bicycles, ocean-going ships, etc may be considered by Portuguese importers.

There is good prospect of Portuguese investment in the areas of leather, ICT, hospitality, renewable energy, etc.