The bilateral trade between South Korea and Bangladesh which stood at US $ 2.19 billion in 2021 increased 38.71 per cent year-on-year to cross the US $ 3 billion mark in 2022.
This is as per reports which cited the data from the Korea International Trade Association in this direction while adding Bangladesh’s export to Korea has been on the rise since it crossed US $ 100 million in 2007 for the first time before touching US $ 200 million in 2011 and then US $ 300 million in 2013 but after that remained somewhat stagnant for almost a decade and even went down in 2020 owing to the adverse impact of the COVID-19 pandemic before making a strong rebounded in 2021 and retaining the momentum well into 2022.
Readymade garments along with sports and leisure items and bronze scraps are the principal export items from Bangladesh to Korea even as apparel export grew more than 25 per cent year-on-year last year, accounting for 83.2 per cent of the total shipment to South Korea in 2022 while paper products and food exports surged 168.6 per cent and 165 per cent respectively and that of bronze scraps went up 41.8 per cent to US $ 17.76 million.
