Bangladesh planning to boost halal products exports to Gulf countries

 Bangladeshi market is a very fast progressive market. Over the years, Bangladeshi exports have been propelled at an express rate. As per the Bangladesh import export data reports, the country’s exports are nearing $60 billion this year. Whereas, last year, Bangladesh exports totaled to be $49 billion. The United States was the most prominent market for Bangladeshi exports having over 18% market share. 

Germany was the second leading market for the Bangladesh exports with over 12% share. Other major potential markets for Bangladesh exports were the United Kingdom, Spain, France, Poland, India, Netherlands, Italy and Canada. Garments were the most exported items from Bangladesh accounting for over 90% of the country's overall exports. Rifat Garments and Liberty Knitwear were the top garment suppliers from Bangladesh.

Bangladesh has a very minor presence across Gulf countries like Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Oman, etc. The Bangladesh government has devised a new way to crack gulf countries' markets. As exporting goods to gulf countries is not that easy. Getting a halal certification could ease the process as 40% of the non halal products are rejected over the course of the period.

Currently, the halal market is estimated to be around $3 trillion dollars. By investing in this sector, Bangladeshi import export companies can boost their exports to Gulf countries. These include zabiha meat, fish, milk, eggs, vegetables, etc. Global trends show that the two biggest markets for halal products are Saudi Arabia and the United Arab Emirates.

According to the Bangladesh export data, Saudi Arabia has imported over $367 million worth of goods from Bangladesh during the financial year 2022. These include cotton, palm oil, trousers, bakery goods, vegetables, ginger, sweet biscuits, jute, malt extract, etc. Pran Agro, Alin Food Products, Habiganj Agro, Tropical Fashions and Banga Millers were the top suppliers from Bangladesh to Saudi Arabia.

Whereas, the United Arab Emirates imported over $786 million worth of goods from Bangladesh during FY 2022. These include textile articles such as towels, napkins, cotton t-shirts, trousers, jute, piston engines, etc. Elham Fashion, Escorp Apparels and Fahim Jute Diversified Industries were the top Bangladeshi suppliers to the United Arab Emirates.

In terms of imports, Bangladesh has imported nearly $2 billion worth of goods from Saudi Arabia. These include diammonium phosphate, fertilizers, petroleum oils, gas turbines, chemicals, plastic articles, fish, prawns, etc. Whereas, Bangladesh import data shows that $2.4 billion worth of goods were imported from the United Arab Emirates. Bangladesh's key imports include cement, petroleum oils, chemical fertilizers, limestone, vessels, scrap iron, etc.

 

Bangladesh importers and exporters could reach out to the genuine international buyers with the help of global import export data provider. The global trade information provided by them helps you figure out the year wise Bangladesh imports, exports, price, quantity, port supply, emerging markets, competitors and potential business clients in the form of importers, exporters. 

Also, you can track gulf countries imports of halal and other products, spot genuine buyers, make decisions on product pricing based on the shipment records of gulf countries import export companies. It will help you align your business according to the gulf countries market.