Agriculture accounts for about 11.0% of Bangladesh's GDP and 36.9% of the country's employment structure. Despite the presence of vast fertile lands, the region is prone to natural disasters, which negatively affects the volume of agricultural production. This circumstance necessitates investment in irrigation systems, including the construction of dams to control water levels in the numerous rivers flowing through the country, one of which is the Ganges flowing into the Bay of Bengal.
Bangladesh's favorable climatic conditions allow it to grow large volumes of rice, which accounts for about 90% of the country's cereal production (39.1 million tons in 2022/23). The country is among the world and regional leaders in terms of gross rice production. Bangladesh also grows maize (4.6 million tons in 2022/23) and wheat (1.2 million tons), but their production is insufficient to meet domestic market needs, and a significant share of demand is met through imports. Cumulative gross cereal harvests in 2022/23 totaled 44.8 million tons, up 3.0% from 2021/22.
In the vegetables, root and tuber crops category, crops such as potatoes, onions and eggplants show the highest production. In 2022/23, gross yields were 10.4 million tons, 2.5 million tons and 681,000 tons, respectively. Among fruits and berries, mangoes, bananas and pumpkins are the most common, with production reaching 1.5 million tons, 840,000 tons and 383,000 tons respectively. Sugarcane is also grown in the country, with a gross harvest of 3 million tons in 2022/23, down 3.4% from the previous season.
Bangladesh's total raw milk production in 2021/22 was 13.1 million tons, up 9.1% from the previous season. About 11.8 million tons or 90.0% was cow's milk. Meat production reached a record 9.3 million tons. Also in 2021/22, some 23.35 billion eggs were produced.
Fish and seafood are an important source of animal protein for Bangladeshis. The country has significant aquatic biological resources due to its large number of rivers and access to the Bay of Bengal. The production of fish and seafood in Bangladesh has been increasing annually and reached 4.8 million tons by 2021/22. According to official statistics, the volume for 2022/23 was 4.9 million tons, up 3.3% from the previous season. Bangladesh has a developed aquaculture sector, which accounts for more than half of the country's fish and seafood production annually.
Bangladesh imported agricultural products worth US$10.4 billion in 2023, down 11.1% from 2022.There has been a steady decline in the procurement of the country's agricultural products from foreign markets in the last two years.
In value terms, Bangladesh's top imported items in 2023 were wheat (14.7%), palm oil (13.4%), beet and cane sugar (10.3%), and soybeans (9.2%). Cumulatively, the top 10 most locally demanded products accounted for 68.7% of Bangladesh's total agricultural commodity shipments in value terms.
In 2023, Bangladesh's purchases of fresh onion vegetables (+84.3% or +US$152.7 million), soybean cake and meal (+70.8% or +US$141.7 million), and beet and cane sugar (+10.0% or +US$97.4 million) increased most notably. At the same time, there was a significant decrease in purchases of maize (-68.7% or US$490.6 million), palm oil (-20.9% or US$370.3 million), soybean oil (-25.8% or US$228.7 million) and soybeans (-12.5% or US$137.1 million).
India is Bangladesh's main trading partner - in 2023, the share of Indian products in the country's agricultural commodity imports amounted to 22.8%. Brazil (15.5%) and Indonesia (12.0%) were also among the top 3 exporting countries of agricultural goods to Bangladesh at the end of the year. Cumulatively, the top 10 supplying countries accounted for 82.1% of the volume of Bangladesh's agricultural imports.
Agricultural exports to Bangladesh from Russia (5.4 times or +US$591.0 million) and China (+3.3% or +US$16.0 million) grew most notably in 2023. Russia increased wheat shipments 7.7 times (from $91.1 million to $705.8 million). China exported 3.3 times more fresh onion vegetables (from USD 31.3 million to USD 102.1 million) and 2.9 times more tangerines (from USD 9.7 million to USD 28.4 million).
At the same time, Bangladesh's imports from India (-27.7% or -$911.0 million), Indonesia (-19.7% or -$308.2 million) and Australia (-30.6% or -240.2 million) decreased significantly in 2023. India reduced corn exports by 70.3% (from $575.8 million to $171.3 million) and discontinued wheat shipments. Indonesia reduced palm oil shipments by 21.2% (from $1.5 billion to $1.2 billion). Australia exported 72.7% less wheat (from US$168.1 million to US$45.9 million) and 37.7% less dried lentils (from US$282.1 million to US$175.8 million).
In 2023, Bangladesh's agricultural exports amounted to USD 1.13 billion, down 21.7% from the 2022 level, while the country's agricultural exports in value terms grew steadily at an average annual rate of 9.5% in 2019-2022.
Crustaceans (26.1%) and raw tobacco (19.1%) accounted for the bulk of Bangladesh's agricultural exports in 2023. Cumulatively, the top 10 exported agricultural commodities accounted for 73.3% of the country's agricultural exports in value terms.
Bangladesh's exports of live fish (2.4 times or +$14.2 million), pasta (+36.8% or +$9.9 million) and sesame seeds (+23.4% or +3.2 million) increased most notably in 2023. At the same time, Bangladesh's exports of crustaceans (-27.8% or USD114.2 million), oil and other vegetable fats (-64.0% or USD104.7 million), and flour confectionery and bakery products (-18.9% or USD15.5 million) decreased significantly in 2023.
The major importer of Bangladesh's agricultural products in 2023 was India (15.5% of export value). UAE (9.0%) and UK (8.9%) were also among the top three importing countries. In total, the top 10 markets accounted for 72.9% of Bangladesh's agricultural exports in 2023.
Compared to 2022, China (2.7 times or +59.5 million USD) and UAE (+34.7% or +26.2 million USD) showed the most significant increase in Bangladesh's agricultural purchases. China increased its purchases of crustaceans 6.1 times (from USD 6.5 million to USD 39.8 million) and also increased its imports of live fish 3 times (from USD 7.1 million to USD 21.0 million). The UAE imported 75.1% more raw tobacco in 2023 (from US$34.5 million to US$60.4 million).
At the same time, imports from Bangladesh by India (-43.2% or -$133.5 million), Belgium (-43.6% or -$56.9 million) and the Netherlands (-47.1% or -$42.0 million) decreased in 2023. Compared to the previous year, India reduced its purchases of butter and other vegetable fats by 64.2% (from US$163.0 million to US$58.4 million). Belgium purchased less shellfish by 38.9% (from $65.1 million to $39.8 million) and raw tobacco by 49.7% (from $55.2 million to $27.7 million). The Netherlands decreased its purchase of shellfish by 43.7% (from US$65.0 million to US$36.6 million).
