Datanomics: India's import ban sharply alters Bangladesh's jute maths

India's jute exports exceed its imports, with key buyers including the U.S. (23 per cent), France (9 per cent), and the Netherlands (6 per cent) in FY24

To curb dumping and protect domestic farmers, India recently decided to restrict jute imports from Bangladesh. With India accounting for nearly one-fourth of its $793 million jute exports in 2023-24 (FY24), Bangladesh faces a challenge. To offset the impact, the country may need to seek new trade partners. Meanwhile, India’s jute exports exceeded imports in FY24, with the US accounting for 23 per cent, France 9 per cent, and the Netherlands (6 per cent) in FY 24. 

 

In FY25, India’s jute imports stood at $266 million. While Bangladesh, Nepal, and China have been major sources of India’s jute imports, Bangladesh’s share rose from 68 per cent in FY19 to 81.4 per cent in FY24 before falling to 77.9 per cent in FY25.

 

 

In jute imports from Bangladesh, raw or retted type had the highest share (38.4 per cent), followed by other jute manufactures (32.6 per cent), and jute yarn (27.8 per cent).

 

 

India’s jute exports are substantially higher than imports, broadly implying that the outbound shipments are value added. They grew from $241.7 million in FY19 to $399.9 million by FY25. By comparison, jute imports increased from $170 million in FY19 to $301.3 million in FY24, before declining to $266.5 million in FY25.