Bangladesh is the second most important supplier to German retail.That position was earlier held by Turkey. And China stays as the most important supplier for Germany.
In 2013 Germany imported almost only textiles from Bangladesh. This development reflects a long-ranging trend. While imports from Bangladesh tripled in the past ten years, imports from Turkey have halved in the same time span.
Germany is Bangladesh’s second-largest export market after the US and the number one trading partner within the European Union. About 95 per cent of imports from Bangladesh are textile products. German exports mainly consist of machines, chemicals and electro-technical products. Over the last four years, shipbuilding has emerged as a new sector in the bilateral trade.
Trade with Germany provides Bangladesh with a substantial annual trade surplus. Germany is an open market with free access for Bangladesh goods, without any import tariffs.
Textiles account for 94 per cent of German imports from Bangladesh, with leather goods (2.3 per cent) and food (2 per cent) in distant second and third places.German companies are investing in Bangladesh, particularly in the textile industry, transport and logistics and building materials sectors.
