Merchandise-exports surge 11.68pc in 7 months backed by RMG
Staff Reporter :
The country’s merchandise exports grew by 11.68 per cent year-on-year during the July-January period of the 2024-25 financial year, primarily driven by increased garment shipments.
During the first seven months of this fiscal year, goods worth $28.97 billion were exported, reflecting an 11.68 per cent increase compared to the same period in the previous fiscal year, according to data from the Export Promotion Bureau (EPB) released on Monday.
In the corresponding period of the last fiscal year, Bangladesh earned $25.94 billion.
Apparel exports continued to dominate the sector, contributing $23.55 billion during the July-January period of FY2024-25, up from $21.3 billion in the same period of FY2023-24. This marks a 12 per cent year-on-year increase.
In January 2025, the country exported merchandise worth $4.43 billion, up from $4.19 billion in January 2024, according to EPB data. Of this, ready-made garment (RMG) exports accounted for $3.66 billion, reflecting a 5.57 per cent rise compared to January 2024. Earlier in December, exports increased by 17.72 per cent year-on-year to $4.63 billion from $3.93 billion in December 2023.
Other major export sectors, including leather and leather goods, agricultural products, home textiles, frozen fish, and plastic products, also showed positive growth, reinforcing Bangladesh’s strong position in global markets.
The export target for FY25 has been set at $50 billion, representing a projected growth of 12.44 per cent compared to the previous fiscal year.
Meanwhile, Bangladesh’s remittance earnings also exceeded $2 billion for six consecutive months, recording a substantial 24 per cent year-on-year growth to $15.96 billion during the July-January period of the current fiscal year.
Both export earnings and remittance inflows positively contributed to the country’s foreign exchange reserves and financial account. As of 20 February, foreign exchange reserves stood at $20.19 billion, according to data from the Bangladesh Bank.
In the post-pandemic period of 2021, the country’s import payments began rising faster than remittance earnings and exports, leading to a shortage of US dollars in banks.
This foreign exchange crisis intensified in mid-2022 due to price hikes in essential goods and other commodities in the global market, exacerbated by supply chain disruptions caused by the pandemic and the Russia-Ukraine war, alongside increasing incidents of money laundering during the ousted Hasina regime.
The financial account, which was previously running a deficit of nearly $2 billion, improved to a surplus of approximately $1 billion in December 2024, marking a turnaround of more than $2.5 billion.