Overview of the Construction and Mining Industry in Bangladesh and How to Buy Equipment
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Bangladesh
Bangladesh is a South Asian country east of India sharing a border with the Bay of Bengal.
- Bangladesh has a population of 163 million.
- Capital: Dhaka
- Official Languages: Bengali
- Total Area: 881,913 km²
- Currency: Bangladeshi taka (BDT)
Economic Statistics of Bangladesh
As of 2020, Bangladesh had a Gross Domestic Product (GDP) of 329.12 billion USD. The country has shown a 160 billion USD growth since 2014 and is expected to continue till 2025.
Economic Sector Divide
As of 2019, the share of economic sectors in the GDP of Bangladesh was
- Agriculture: 12.68%
- Industry: 29.65%
- Services: 52.85%
Trade Statistics
The main import-export partners of the country are:
Major Import Partners
- China: 21.53%
- India: 12.24%
- Singapore: 9.19%
- Honk Kong, China: 5.46%
- Indonesia: 4.59%
Main Export Partners
- United States: 19.35%
- United Kingdom: 11.03%
- Germany: 14.79%
- Spain: 5.82%
- France: 5.53%
Industries of Bangladesh
Mining Industry of Bangladesh
The mining industry of Bangladesh mainly produces coal, natural gas, petroleum, and granite. Coal remains the dominant of all the natural resources found in the country, with several coal mines discovered over the year holding billions of tons of reserves. The 2017 figures show that the coal rents of Bangladesh accounted for 0.02 percent of the GDP.
The country has untapped potential in the mining sector, and since the GDP is showing exceptional annual growth, the demand for mining and mineral processing equipment could see a rise.
Construction Industry of Bangladesh
The construction industry of Bangladesh is among the 15 most impactful sectors of the economy. It contributed 2,241,668 BDT to the GDP of Bangladesh in 2020. The industry’s compound annual growth rate (CAGR) is expected to grow 8% until 2026. The year 2019 was especially good for the industry as it was backed by an improving economy, government support, and many mega infrastructure projects. The country also has billions of dollars worth of construction projects in the works.
In light of the impact of the construction industry on the economy, Camamach has stocked the best construction equipment competitive rates for you to fully exploit the opportunities.
Seaports and Trading Hubs of Bangladesh
The main 5 seaports of Bangladesh are:
- Port of Chittagong
- Port of Mangala
- Port of Payra.
- Matarbari Port
For imports, Camamach uses the Port of Chittagong.
What heavy machinery or equipment does Bangladesh Import?
Bangladesh aims to tap into the massive potential of the mining sector. As for the construction industry, it is on a growth path. Some of the imported equipment includes Mobile Crushers, Trailer Concrete Pumps, Beneficiation Equipment, Heavy Duty Trucks, etc.
What regulations are there on importing equipment to Bangladesh?
In Bangladesh, the importers electronically submit the manifest data to the customs authority. The duties and taxes are paid once the imported goods are cleared by the customs.
Documentation
The general documentation for imports into the country include
- Bill of Landing
- Packing List
- Commercial Invoice
- Certificate of Origin.
- VAT/BIN Certificate
- Insurance Policy/ Cover Note.
- Letter of Credit.
You can visit the country’s official website for complete details.
Why should Bangladesh import equipment?
- Availability: The capacity of the domestic industry is limited, whereas international manufacturers are more stock.
- High Equipment Cost: Domestic manufacturers are generally more expensive than international suppliers.
- Equipment Quality: International suppliers consider every detail and provide several other advantages that consumers appreciate in the long term.
Where Can I Buy Equipment for Bangladesh ?
Camamach has years of exporting experience in Bangladesh. Feel free to contact us at [email protected] or WhatsApp us at +86-131-2037-9271 for a FREE quotation. We also ship worldwide; for other countries, check out our experience here.
