The market size of the electronics industry (including both industrial and consumer electronics) is around 4 billion USD in 2017 and is expected to reach around 12 billion USD by 2025. The size of the consumer electronics market is estimated to be around 1.8 billion USD in 2016. The market size of consumer electronics products is estimated to reach around 6.3 billion USD by 2025.
Bangladesh imported electronic products worth around 2.2 billion USD in 2016 including consumer and industrial products among which air conditioner and refrigerator were the greatest imports. Chinese products occupy the largest share (69%) of the market of imported consumer electronics products. Other main exporting countries for Bangladesh include India, Korea, Japan among some others. On the other hand, if we look at the exports of Bangladesh electronic and electrical products, the figures are negligible compared to the imports. According to the information received, in the early 80’s, some industrial entrepreneurs of this country took initiative to produce different types of electric products. Initially, the electrical goods produced in this country did not get much response. In the 90’s, the manufacturers of electric products started a joint venture with some of the leading companies in the developed world to produce various products. As a result of producing high quality products with advanced technology, the electronics manufacturing companies of this country are able to gain the trust of the people. Then gradually these companies started producing products on a large scale. At present the people of our country are no longer buying foreign electronics products like before.They are buying home-made electronics. According to the information obtained, the quality of various types of electronics produced in the country is good and there is a great demand for these products in different countries of the world. The electronics manufactured in our country are being exported in limited quantities to several countries of the world. The Export Promotion Bureau (EPB) data shows that Bangladesh’s $22 million earnings from electronic product exports rose by a staggering 1,275 per cent in the last fiscal year, compared to $1.60 million recorded in FY2019-20.We need a massive campaign to increase the demand for our electronics in foreign markets.
