Bangladesh’s export to Brazil up 26% in FY25

Bangladesh's multilateral engagement with Brazil, particularly in the economic sector, has deepened as Dhaka and Brasilia explore new avenues to elevate bilateral relations to greater heights, diplomatic and trade sources said.

According to the Export Promotion Bureau (EPB), Bangladesh exported goods worth $187 million to Brazil in the 2024-25 fiscal year, marking a 26% rise from $147 million in 2023-24. In July 2025 alone, exports stood at $16 million.

Earlier, exports amounted to $175 million in 2022-23 and $109.2 million in 2021-22, showing a steady upward trend.

The main export items from Bangladesh include readymade garments such as jerseys, pullovers, cardigans, shirts, suits, jackets, trousers, and shorts. In 2022-23, exports to Brazil surged by nearly 60% over the previous year, making the South American country one of Bangladesh's fastest-growing markets.

On the other hand, Brazil's exports to Bangladesh are far larger. In 2021-22, Brazil exported goods worth $2.24 billion to Bangladesh, mainly cane sugar, raw cotton, and soybeans. This increased to $2.66 billion in 2023-24, up from $2.59 billion the year before.

Data from the Bangladesh Bank shows that Brazilian exports are maintaining an upward trend, with shipments rising from $556.6 million in January-March 2024 to $757.9 million in the same period of 2025.

Brazilian Ambassador to Bangladesh Paulo Fernandos Dias Feres said his country is keen to deepen trade ties with Bangladesh, describing it as a "new economic giant" in South Asia.

Dhaka-based diplomats echoed similar optimism, noting that the government has been focusing on strengthening ties with Latin American economies, particularly Brazil.

The shifting global trade environment is also shaping this partnership. With the United States imposing tariffs of up to 35% on Bangladeshi goods—later reduced to 20% after negotiations—Dhaka is increasingly exploring alternative markets such as Brazil, which is expected to overtake Canada with a GDP of $2.13 trillion in 2025, according to IMF estimates.

By 2026, Brazil could become the world's eighth-largest economy with a GDP of $2.47 trillion.

Former BGMEA vice-president Shahidullah Azim stressed that Bangladesh should take advantage of Brazil's growing demand for textiles and apparel. "Brazil imported textiles and clothing worth $5.9 billion in 2022, and Bangladesh already exported $150.6 million worth. With our growing competitiveness, we can expand further in this market," he said.

Azim suggested that Bangladesh should pursue free trade agreements (FTAs) with major markets, including Brazil, to sustain export growth, especially after the country's graduation from LDC status in 2026, when higher tariffs may affect competitiveness.

Officials said that Brazil, one of the world's largest cotton producers and exporters, could become a key supplier to Bangladesh, the second-largest cotton importer globally.

At the same time, Bangladesh could diversify its export basket by promoting jute goods, leather products, and other non-traditional items to narrow the trade gap, they added.

With around 7,000–8,000 Bangladeshis living in Brazil and a rapidly increasing diaspora, people-to-people ties are also expanding. Analysts believe that growing economic and demographic linkages will pave the way for broader cooperation between Dhaka and Brasilia.