Bangladesh's exports of goods and services fell to 10.46% of GDP in 2024, a 20.5% decline from the previous year.

Bangladesh's exports of goods and services stood at 10.46% of GDP in 2024, down from 13.16% in 2023. This represents a 2.7 percentage point drop in a single year, or a 20.5% relative decline. The contraction is not merely cyclical. A decade ago, in 2014, the same ratio was 18.99%, meaning the export share has fallen by 8.53 percentage points, or 44.9%, over ten years. The current level is close to the 10.0% recorded in 1960, underscoring the depth of the structural slide in export orientation relative to the overall economy.

For Bangladeshi policymakers, the shrinking export-to-GDP ratio raises pressing questions about competitiveness, diversification, and exchange rate management. With the economy growing but exports not keeping pace, the country relies more on domestic consumption and remittance inflows to sustain demand. This dependence leaves growth vulnerable to external shocks and limits foreign exchange earnings needed for debt servicing and capital goods imports. The trend suggests that current industrial policy, including incentives for ready-made garments and special economic zones, has not yet reversed the loss of export momentum. Addressing logistics costs, regulatory bottlenecks, and skills mismatches is essential if Bangladesh is to arrest this decline and achieve a more resilient external balance.

Data note. This indicator captures the share of exports in GDP rather than export volumes or competitiveness in specific product categories, so it can shift due to GDP growth, exchange rate movements, and commodity price changes without necessarily reflecting underlying trade performance.