Staff Reporter :
Bangladesh’s overall merchandise exports grew by 11.8 per cent year-on-year in the first five months (July-November) of the current financial year 2024-25, primarily driven by readymade garment shipments, according to data released by the Export Promotion Bureau (EPB) on Wednesday.
During the July-November period of FY25, exports increased to $19.90 billion, up from $17.81 billion in the same period last fiscal year. The data, provided by the state agency, reflects real-time shipment updates from ASYCUDA World, under the National Board of Revenue (NBR).
Exports saw a positive turnaround in July, with a modest 2.93 per cent growth. This growth continued in the following months, with earnings rising by 5.51 per cent in August, 15.43 per cent in September, and 20.65 per cent in October, according to the EPB data.
In November, Bangladesh’s exports rose by 15.63 per cent year-on-year, with export earnings reaching $4.12 billion, a $556 million increase compared to the same month last year.
The garment sector, Bangladesh’s largest export earner, recorded a 16.25 per cent increase in exports, with earnings of $3.3 billion. In October, the readymade garment (RMG) sector generated $3.30 billion, marking a 22.8 per cent increase from $2.68 billion in the same period of FY24, accounting for 79.8 per cent of total export earnings.
Beyond garments, other sectors also showed strong growth. Exports of frozen and live fish rose by over 15 per cent, agricultural products by nearly 16 per cent, pharmaceuticals by over 52 per cent, plastic products by 32.57 per cent, home textiles by nearly 21 per cent, and jute and jute goods by nearly 6 per cent.
Despite these positive figures, overall export growth in November was lower than in October, which saw nearly a 21 per cent year-on-year increase, according to EPB data.
Exporters have expressed concerns about the sustainability of the recent growth. They have warned that without improvements in the law and order situation, as well as ensuring a steady supply of gas and electricity and adequate banking support, the future growth of the sector could be at risk.
Meanwhile, Bangladesh aims to increase its merchandise and service exports by approximately 12.59 per cent year-on-year, targeting $57.5 billion in total exports for the fiscal year 2024-25. Of this, $50 billion is expected to come from goods exports, with the remainder from services.
It is worth noting that in the previous fiscal year, Bangladesh’s goods exports totalled $44.48 billion, a 4.34 per cent decline compared to the earnings of FY23
