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Product price in Bangladesh

Are you looking for products price in Bangladesh? Then you are in the right place. Hopefully, this article will help you know more about the price of essential commodities, electronics, mobiles, cars, imported foods, and living costs in Bangladesh. Keep reading today’s blog to know more.

The cost of living in Bangladesh is 53.04% lower than in the United States. However, daily goods, foods, electronics, and essential commodities are comparably high in Bangladesh due to high taxes and VAT, transportation, insufficient supply, and production. The price of electronic goods is much higher than in other countries like India.

Budget 2021-22

The budget for the 2021-22 fiscal year in jatiya sangsad has been introduced by Finance Minister. In this year’s budget, income tax, duty, VAT, or supplementary duty has been increased on some products, resulting in the increase of these products in the future. The price of liquor and beer will increase in the future because 20% advance income tax has been imposed on the import of liquor and beer in the year’s budget. The worth of cigarettes has also been increased. The budget also proposes increases on imported goods and foods. Price will expand on the imported cell phones, iron wire, meat, sugar, confectionery, mineral oil, rice bran oil, and mushroom. On the other hand, this budget may decrease prices for sanitary napkins, covid kit, toilet pan, autism services, steel, and chicken products.

Price hike in Bangladesh

The price hike of essential goods in Bangladesh hit hard to the poor and middle-class people, which leads to unemployment and salary cuts. Almost all essential commodities have gone up, making it difficult for ordinary people to meet their daily needs. People are buying products from TCB trucks; the crowd is growing more significant day by day. Rice, soya bean oil, onion, garlic, pulse, sugar, and other essential items worth keeping growing day by day.

Impact of Price Hike

Price hike causes vulnerable consequences in purchasing clothing, schooling, food, and health-related facilities. People have to sacrifice a significant number of faculties to coping strategies. To change their economic system, they have to withdraw their children from school force them to do child labor. The value of dairy commodities has gone beyond the reach of mass people.

Price of Essential goods in Bangladesh

  • The worth of necessary commodities, including rice, chili, onion, oil, and vegetables, is rising.
  • The worth of unpacked sugar was 75 a kg, which is now selling at 80 takas per kg.
  • Non-bottled soyabean oil is selling at 140-142 Tk per liter; bottled soyabean oil is trading at 53-160 per liter.
  • The standard variety of rice sold for 62-64 kg.
  • The coarse variety of lentils sold for 90-95 a kg and medium quality variety for 100 a kg.
  • The local variety of onion sold for 60-65 a kg
  • The egg is sold for 38-40 a Hali.

Fuel price hike

The price of diesel and kerosene has increased from 15 Tk to 80 Tk. The government collects revenue from fuel sales in the four forms of taxes, including VAT, duty, and trade tax which collectively stands at around 30%.

Electronic products Price

The country’s electronic industry now assembles almost everything the local consumers need, including high-tech smartphones, fridges, and laptops. In addition, an increasing number of plants are manufacturing refrigerators, televisions, air conditioners, washing machines, and other home appliances. Some foreign companies also invest in local plants, like LG’s local partner butterfly, invested in the local manufacturing company. As a result, over The last decade, the average cost of an Lcd panel came down from 18000 Tk to 2000 Tk, air conditioner compressors cost halved to 15000 on average, almost one-fourth of what it used to be a decade ago. Bangladesh’s fast-growing electronic appliances market has tripled to nearly $2.4 billion in a decade, helped by the economy’s growth that has created a stronger consumer class.

Mobile phone price

Mobile phones worth start from 1000 up to 20000 Tk range in Bangladesh.

Mid-Range

Midranges phones start from 10 thousand to 30-40 thousand. Almost all of these phones come with GSM/HSPA/LTE technology, which offers 3G, 4G, and 5G bands with super AMOLED displays.

High range

High-Range mobile phones start from 1 lakh or more. They will give you better specification, best performance, best camera within the budget.
Why mobile phones price is high in Bangladesh:
Semiconductor chip storage globally has forced Bangladesh’s smartphone assemblers to hike their newly launched devices by 15-20% in recent days. Chip crisis, along with energy costs and d4epreciation of the local currency, will increase the value of mobile phones in February and March 2022.

Laptop price in Bangladesh

Some budget laptops are available in Bangladesh for under 50000 tk.

    • Asus X509FJ
    • Dell inspiration 14-3481
    • Dell inspiration 15-3581
    • Lenovo idea pad s145
    • Acer aspire 5A515-55G 36XN

Apple, HP, Lenovo, Dell, Acer, MSI, Microsoft surface is the top laptop brands available in BD to buy your laptop within your budget.

Car and Bike price in Bangladesh

Most selling cars in Bangladesh; Toyota aqua (12-15) lakhs, Nissan X-Trail 5250000 BDT, Honda CR-V Turbo 5550000 BDT, Honda Accord Turbo 5800000 BDT. Toyota Corolla, Toyota Noah, Mitsubishi Pajero, Toyota Allion are the best-selling car brand in Bangladesh.
Yamaha Fz V2, Bajaj pulsar series, Suzuki GSX R 150, Yamaha R15 V3, Honda X Blade are considered as the best bike in Bangladesh within the budget.
Why motorcycle and cars price is high in Bangladesh:
The government has a high percentage of VAT in Motorcycle import, which started from 152%. Those company that imports motorcycle need to provide the highest amount of VAT. That’s why the price is comparatively high in Bangladesh than in any other country. Those companies assembling and manufacturing motorcycles in Bangladesh have a little bit low percentage of VAT.

Conclusion

So, I hope you got the idea of the product’s value and the price hike in Bangladesh. High worth is a high tax, VAT, and insufficient production. The effect of price hikes converting the lower-income people to marginal and the middle-income people to the lower-income people. People with a decent salary one time may become poorer with the spiraling of price.

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