One of the most technological advanced industries in Bangladesh, the pharmaceutical industry has transformed itself from an import dependent industry in the 1980s to a self-sufficient one serving the global market. The capacity and expertise of the industry was evident during the COVID-19 pandemic where the industry quickly adapted to the unprecedented challenges and has been fulfilling not only the national demand for COVID related medicines but also the global market. As a beneficiary of TRIPS patent waiver, the Bangladesh pharmaceutical industry is all set to becoming a hub for generic medicines.
Building from strength to strength, the pharmaceutical industry has grown from about $25 million in 1982 to about $3 billion as of June 2020. Driven by the increasing purchasing power of the domestic population, the domestic pharmaceutical market is forecasted to exceed USD 6 billion by 2025.
At present the industry is serving 97 percent of the domestic market and exporting to more than 100 countries around the world. The Bangladeshi drug market is dominated by production of branded generic drugs, which account for almost 80% of the drugs produced locally, while patented drugs make up the remaining. Currently, there are 271 Allopathic, 205 Ayurvedic, 271 Unani, 32 Herbal and 79 Homeopathic drug producing companies in the country.Promising Agro and Food-Processing industry
Bangladesh is an agrarian country with a tropical climate perfectly suitable for the production of a variety of crops, fruits & vegetables, livestock and fisheries and a promising Agro and Food-Processing industry.
Bangladesh is blessed with a tropical climate and fertile soil and a total agricultural output of around 70 million metric tons in 2019-20 period with Rice, potato and sugar crop accounting for around 80% while fruits, vegetables and spices accounted for 17% of the output. the agriculture sector employs around 40.6% of the labor force and contributes 14.23% to GDP. The agro-food processing industry now contributes about 1.7 per cent to GDP and employs about 250,000 people. Its share of total exports now stands at around 3.5 per cent.
Bangladesh exports more than 700 items including 63 basic agro processed products most of which are cereal grains, frozen fish, processed meat, tea, vegetables, tobacco, cut flower, fruits, spices, dry food and other processed agricultural products including livestock, poultry & fish feed to more than 140 countries. At present, there are 486 agro processing manufacturers in the country among which 241 are exporters and 235 cater to the domestic market. The main exports items are frozen fish, shrimp and other frozen food products, tea, spices, fruits including dry fruits and some other processed agricultural products. The major export destinations include the European Union (EU), the US, the Middle East and the Gulf.
In the packaged food market, edible oils, dairy products and snacks dominate in terms of sales value. These products are expected to continue growing steadily by around 6% per annum. Products that are expected to expand rapidly include processed fruits and vegetables, seafood, and meat, which are expected to grow by 8%, 13%, and 13% per year respectively.Jute: Bangladesh’s contribution to GOING GREEN
One of the most ecofriendly and sustainable crops, jute, known as the golden fiber, is a natural fiber extracted from jute plant. With growing awareness for environment friendly products, the need for jute-based products has never been greater. One of the oldest industries in the country, the Bangladesh government has been nurturing the industry through continuous support and favorable policies and incentives creating investment opportunities for local and international investors.
Bangladesh is one of the largest producers of jute in the world with an estimated annual production of 1.6 million tons. There are about 220-245 private jute mills currently operating in Bangladesh. Out of these, 25 public jute mills are currently in the process of being leased to the private sector. In addition, there are about 700 diversified jute producers who employ between 50,000 to 100,000 people in the country.
Average domestic consumption of raw jute amounts to 1.16 million tons per year (BJSA). In addition, Bangladesh is also the top exporter of jute and jute-based products in the world with average exports of around USD 1 billion per annum.Shipbuilding: An emerging player in the global market
The Bangladesh shipbuilding industry is the upcoming player in global market for small and medium sea-going vessels. While the industry mainly caters to the domestic market, exports have been growing satisfactorily over the last decade. Bangladeshi companies have exported ro-ro vessel, multipurpose container vessel, tug boat, landing craft, bulk carrier, patrol vessel, catamaran water taxi, ferry, oily waste collection vessel and passenger vessels to various countries in Europe, Africa and Asia.
There are currently more than 100 ship builders and over 120 registered shipyards of varying size, located mostly on the river banks. In Bangladesh, almost 90% of fuels, 70% of cargos and 35% of passengers are moved by waterways, bringing about a huge domestic demand for vessels. Owing to steady economic and trade developments, and activated infrastructure projects, locally registered number of vessels has increased with average annual growth rate of 5.39%. Annual market value of local shipbuilding industry is currently valued around USD 1 billion, and the demand growth is forecasted to remain steady along with the economic growth. Annual building capacity for export orders is estimated as more or less 20 vessels currently. Vessels built locally for domestic usage include MPV, container, bulker, tanker, dredger, tug as well as passenger ferry, and ranges from 1,000 to 20,000 dwt in size.The ceramic industry
The ceramic industry has been one of the expanding manufacturing sectors of Bangladesh. The sector caters to 85% of the local demand as the country experiences steady economic growth and urbanization and progressing towards being the third largest export sector in the next five years.
The ceramic industry started its journey in 1958 and currently consists of around 65 producers of traditional ceramics such as tableware, tiles, sanitaryware, insulator, heavy clay etc. Local production meets the demand of 96% of tableware, 77% of tiles and 89% of sanitary ware. Over the last decade, the Bangladeshi ceramic industry has witnessed a multi-dimensional growth in both domestic (20% average annual growth) and export markets (26% during the last three years), and approximately 200% growth in production capacity in the last 5 years. The sector directly employs around 48,000 people and is estimated to indirectly employ over 500,000 people.
Bangladeshi ceramics products are exported to more than 50 countries including the UK, the USA, Italy, Spain, Norway, France, Netherlands, Australia and more. This sector is forecasted to become the third largest in the next five years. US-China trade tension and rising European demand have been the major catalyst for export growth. Global market for ceramic products is expected to be worth USD 408 billion by 2025 and the country’s ceramic manufacturers are positioned to capture a slice of this expanding world market.
