Bangladesh may become India's fourth largest export destination in FY22

Bangladesh's growth stems largely from its success as an exporter of garments, which account for around 80 per cent of its total exports

Bangladesh may become India’s fourth largest export destination in FY22, jumping five places in two years. This comes as the economic boom of the eastern neighbour continues to fuel India’s exports growth.

According to disaggregated data available till October, during the first seven months of FY22, exports to Bangladesh grew 81 per cent over the same period in the preceding year to $7.7 billion. This makes it India’s fourth largest export market behind the US, UAE and China.

If the trend continues, Bangladesh will only better its rank in India’s export profile from last year’s 5th position when it surprised analysts by