Among Bangladeshi football fans, Brazil and Argentina enjoy almost equal popularity. In bilateral trade with Bangladesh, however, Brazil is well ahead.
Bangladesh exports more than eight times as much to Brazil as it does to Argentina, reflecting stronger demand for Bangladeshi products in the Brazilian market. Bangladesh also imports significantly more goods from Brazil.
Although Argentina trails Brazil in terms of trade volume, it has outperformed Brazil in the growth of imports from Bangladesh.
According to data from the Export Promotion Bureau (EPB), Bangladesh’s exports to Brazil have increased by nearly 113 per cent, or more than doubled, over the past five years. In contrast, exports to Argentina have grown by 215 per cent, or more than tripled.
Bangladesh has strengthened its position in the markets of both Latin American countries mainly through exports of readymade garments, raw jute and jute goods, leather and leather products, and pharmaceuticals.
EPB data show that Bangladesh exported goods worth US$187.3 million to Brazil in the 2024–25 fiscal year. During the same period, exports to Argentina stood at US$21.6 million, meaning export earnings from Brazil were more than eight and a half times higher than those from Argentina.
What Bangladesh exports
Readymade garments account for the bulk of Bangladesh’s exports to both countries. However, Brazil not only offers a much larger market than Argentina but also imports a more diversified range of Bangladeshi products.
In fiscal year 2024–25, around 90 per cent of Bangladesh’s exports to Brazil came from knitwear and woven garments. Exports also included US$7.6 million worth of raw jute and jute products, US$3.3 million in leather, leather goods and footwear, and US$800,000 in home textiles. Bangladesh also exported agricultural products, pharmaceuticals, tobacco, toys, ceramic tableware, and iron and steel kitchenware to Brazil.
In Argentina, around 85 per cent of Bangladesh’s exports during the same fiscal year consisted of readymade garments. Bangladesh also exported US$2 million worth of leather, leather goods and footwear, US$250,000 in jute products, and US$40,000 in home textiles. Other exports included toy vehicles, plastic products, and ceramic tableware.
Brazil also leads in exports to Bangladesh
Brazil also dominates Argentina as a source of Bangladesh’s imports. According to Bangladesh Bank data, imports from Brazil have increased by 52 per cent over the past five years, compared with only 20 per cent growth in imports from Argentina.
Bangladesh imported goods worth US$2.638 billion from Brazil in fiscal year 2024–25, while imports from Argentina amounted to US$784.7 million. In other words, Bangladesh imported nearly three and a half times more goods from Brazil than from Argentina during the latest fiscal year.
An analysis of data over the past five fiscal years shows that Bangladesh imported goods worth nearly US$1.74 billion from Brazil in fiscal year 2020–21, rising to nearly US$2.64 billion last fiscal year.
Imports from Brazil increased almost every year during the period. By contrast, imports from Argentina fluctuated. Bangladesh imported just over US$620 million worth of goods from Argentina in 2020–21, which rose to more than US$780 million last fiscal year.
According to Bangladesh Bank, Brazil ranks as Bangladesh’s sixth-largest source of imports, accounting for around 4 per cent of the country’s total imports. Argentina ranks 17th among Bangladesh’s top 20 import sources, followed by Thailand, Canada and Pakistan.
What Bangladesh imports
Bangladesh’s imports from Argentina are dominated by edible oils such as soybean and sunflower oil, animal fats including tallow and ghee, and waxes. Together, these products account for 71 per cent of Bangladesh’s import spending on Argentine goods.
Food grains, including wheat and maize, are the second-largest import category from Argentina.
Bangladesh also imports significant quantities of oilcake, including soybean meal, which is used primarily as a key ingredient in livestock and fish feed. Other imports from Argentina include oilseeds such as soybeans and sunflower seeds, cotton, industrial chemicals used as raw materials, raw and processed leather, paints, varnishes and printing ink.
From Brazil, the largest import category in fiscal year 2024–25 was sugar and sugar confectionery, accounting for 32 per cent of total imports. Cotton ranked second, making up 27 per cent of imports, reflecting Bangladesh’s demand for raw materials for its textile and garment industries.
Bangladesh also imports substantial quantities of oilseeds, wheat, maize, edible oil, iron and steel, pharmaceuticals, raw and processed leather, animal feed, wood pulp, salt, sulphur, stone, lime and cement, paper products, nuclear reactors, and industrial boilers from Brazil.
