Yes. Compostable products by definition are biodegradable. However, compostable products must also break down, or become part of usable, soil-enhancing compost in a safe and timely manner in an appropriate composting facility or home compost pile. Composting is a form of recycling.
Biodegradable products must return to nature, disintegrating or disappearing completely. A biodegradable product may be broken down by microorganisms, but this does not necessarily imply that the product can be converted into a soil-nurturing compost. This disintegration is not bound by time and does not need to enhance quality. Metallic or toxic residue from materials is often released in the return-to-nature process and is still considered part of biodegradation.