Country’s light engineering has $12.5b export potential by 2030: Experts

Business Report :

Bangladesh’s light engineering sector has the potential to generate $12.56 billion in export earnings by 2030, although the country shipped only $487 million worth of goods in the 2023-24 fiscal years.

The South Asian nation is home to about 80,000 micro, small, and medium light engineering units, with a domestic market valued at around $8 billion and an annual growth rate of nearly 28 percent.

The sector employs over 300,000 people and contributes nearly 3per sent to the country’s GDP and the main markets for the light engineering products are Thailand, Japan, the Netherlands, India, South Korea, the United Kingdom, Taiwan and Pakistan.

M Masrur Reaz, chairman of Policy Exchange of Bangladesh, on Saturdays hared the observations at the inaugural ceremony of the “Road to Made in Bangladesh and Agro Machinery Fair 2025” held in the capital’s Tejgaon. BCI President Anwar-Ul Alam Chowdhury (Parvez) chaired the event.

The Bangladesh Chamber of Industries (BCI), with support from the Bangladesh Automobiles Assemblers and Manufacturers Association and the Agriculture Machinery Manufacturers Association Bangladesh, organised the two-day fair at the BCI office.

Reaz said annual export earnings from light engineering products have hovered between $400 million and $800 million over the last eight years.
There are several growth drivers for light engineering in Bangladesh, including low-cost labour and technology adoption.
“Around 10 lakh low-cost labourers are involved in the country, and high domestic and external demand will work as a growth driver,” he said. Speaking as the chief guest, Industry Adviser Adilur Rahman said that the National Industrial Policy has prioritised three sectors: automobiles, agricultural machinery, and light engineering.
“These sectors are playing a very important role in developing productive industries, diversifying exports, and creating employment,” he said. The fair on agriculture and automobiles will help build the confidence of both domestic and foreign investors, while also creating new business opportunities in these sectors.
The two-day exhibition featured 26 stalls showcasing automobiles, agricultural machinery, and light engineering products, along with 12 stalls from industry-supporting organizations.