In the global merchandise and commercial services trade ranking, Bangladesh has moved up four and six notches to 49th and 67th respectively among top 100 countries.
The World Trade Organization (WTO) released their flagship annual statistical publication ‘World Trade Statistical Review-2023’ where they compared the findings of 2022 with the year of 2019.
This was the 23rd volume of the WTO's annual statistical report which was first published in 2001 as International Trade Statistics.
The latest statistical review showed that China remained the largest merchandise trader in 2022 while a significant increase in the world rankings was achieved by Guatemala and Costa Rica, which moved up eight notches to 76th and 77th respectively.
India moved up to 7th position in the ranking of services traders in 2022 thanks to a double-digit growth of 32 per cent, boosted by exports of computer services.
The statistical review also showed that least developed countries’ (LDCs) exports of goods increased by 41 per cent in 2022 compared with pre-pandemic levels in 2019 while commercial services remained depressed (-14 per cent).
Trade in goods and services amounted to $31.0 trillion in 2022, a 13 per cent rise year-on-year while trade in goods exceeded pre-pandemic levels already in 2021, trade in services caught up in 2022.
The world trade overview that services trade recovered in 2022 rising by 15 per cent year-on-year, slightly more than goods trade.
Against this backdrop, the trade situation in Bangladesh, as per the WTO statistical review, has climbed four notches among the leading merchandise traders to 49th position in 2022 from 53rd in 2019 and commercial services to 67th position in 2022 from 73rd in 2019. It means that the country has made progress in the global market.
Among the leading 50 exporters and importers in world merchandise trade, Bangladesh ranked 46th in import last year. These top 50 countries, however, included intra-EU trade which means trade in goods between the member states of the European Union (EU). Individual trade of the EU countries has been taken into consideration in this ranking.
Leading importers in world merchandise trade in 2022, Bangladesh’s import was $88 billion, global import market share 0.3 per cent and annual percentage change increased 10 per cent.
When intra-EU trade is excluded, meaning individual trade of the EU member states not taken into consideration, the rankings of Bangladesh as well as other countries also have changed significantly. Bangladesh became 29th leading merchandise importer and 40th leading merchandise exporter in 2022. Bangladesh’s export was $55 billion, market share 0.3 per cent and annual percentage change increase in 24 per cent.
Bangladesh’s commercial service import was $12 billion, share 0.2 per cent and annual percentage change increase in 12 per cent.
