The inquire for wholesome, excessive-quality meals and beverages is rising in Bangladesh, which skill of a rising inhabitants and an rising sequence of heart-profits households. That is creating opportunities for Australian agricultural exports.
Bangladesh’s GDP increased from US$115.3 billion in 2010 to US$416.3 billion in 2021. This makes it one amongst the realm’s quickest-rising economies over the past decade. The World Bank has labeled Bangladesh as a decrease heart-profits nation. This classification came on the again of realistic GDP per capita deliver of 5.7% over the final 5 years.
GDP per capita in Bangladesh in 2021 changed into as soon as US$2,503. That is increased than India’s GDP per capita of US$2,277 and is a akin to other Southeast Asian countries akin to Laos (US$2,582). Bangladesh’s has around 20 million shoppers.
Citrus and table grapes
Anticipate for novel fruit, alongside side citrus and table grapes, has increased considerably since 2017. Imports fell in 2021, essentially attributable to decreased inquire from the tourism sector and slower economic deliver, which is lowering consumer spending vitality. Despite present declines, demographic developments are anticipated to power Bangladesh’s inquire for imported fruit over the medium term.
Bangladesh’s citrus imports increased by 160% between 2017 and 2020, sooner than declining in 2021. South Africa, India, Egypt, and China present most of Bangladesh’s citrus imports.
Bangladesh is a tiny however well-known marketplace for Australian citrus. Australia exported around $2.3 million in citrus fruits per year between 2019–20 and 2020–21 (ABS 2022).
Bangladesh table grape imports were $127.1 million increased in 2021 than 2017.
China is Bangladesh’s most well-known table grape dealer. Then again, China’s market share has fallen from 90% in 2019 to 61% in 2021.
Australian table grape exports to Bangladesh peaked at $7.4 million in 2019–20 however get dangle of fallen in subsequent years.
Supply: austrade.gov.au