News : German-Bangladesh trade volume breaks €2 bn mark in 2009

Germany & South Asia: Trade between Bangladesh and Germany increased by 16 per cent

German-Bangladesh trade volume breaks €2 bn mark in 2009

February 09, 2010

Trade between Bangladesh and Germany increased by 16 per cent in the first eleven months of 2009, thus defying the global economic downturn. The bilateral trade volume surpassed €2.1 billion in this period according to the German Federal Bureau of Statistics. The trade surplus of Bangladesh amounted to €1.6 billion.

Ambassador Holger Michael welcomed this development: “German and Bangladesh relations grow from strength to strength. Germany is already the second largest export market for Bangladesh and an important partner in its trade based development strategy. We firmly believe that Bangladesh is on a growth trajectory. German business and industry has a lot to offer also to support this development and to promote the diversification of BGD export industries.”

Bangladesh exports to Germany reached a new record high with €1.86 billion, an increase of 17.4 per cent over the first 11 months of 2008. More than 90 per cent of the exports from Bangladesh to Germany are ready made garments. With about thirty ships worth approx. €250 million on order by German ship-owners, the shipbuilding sector is expected to prominently figure in the export statistic of Bangladesh in the years to come.

German exports to Bangladesh increased by 8 per cent from January to November 2009 over the corresponding period of the previous year. German companies sell mainly machinery, chemicals and electric equipments to the Bangladesh market. Generators are among the most successful German products sold last year. More than 30 generators capable of generating almost 80 MW energy and valued at about €20 million have been delivered in 2009 to Bangladesh. The outlook is also positive with regard to energy efficient and environmentally sound machinery and technology. With a share of 16 per cent of the global market, German industry is the world leader in environmental technology, including renewable and “green” energy generation.

Md. Saiful Islam, President of the Bangladesh-German Chamber of Commerce and Industry (BGCCI) said: “With a view of the positive perspectives for the expansion of trade and investment relations between Germany and Bangladesh BGCCI is planning to organise the “German Trade Show II" in 2011. BGCCI has recently welcomed its 100th member company and has strengthened its services by adding a new director for international relations to its management team.”

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