RMG exports post moderate growth in EU

Staff Reporter :

Bangladesh’s Ready-Made Garment (RMG) exports experienced moderate growth during the July-January period of the current fiscal year (FY25) with the European Union (EU) continuing to be a pivotal market.
The Export Promotion Bureau’s (EPB) recently published country-wise export data for the July-January period of the current fiscal year (2024-25) showed such a trend.
The EU represented 50.15 percent of Bangladesh’s total RMG exports, with a total value of US$11.81 billion. Shipments to the United States reached US$4.47 billion, accounting for 18.99 percent of the total share, while the UK market was also significant, with exports valued at US$2.5 billion, equivalent to 10.83 percent of Bangladesh’s total RMG exports during the specified timeframe.
In terms of growth, our RMG exports to the EU expanded by 13.91 percent year-over-year, with the USA showing a robust increase of 16.45 percent. The RMG exports to the UK, however, grew at a more modest rate of 4.55 percent.
Within the EU, Germany emerged as a key market, with Bangladesh’s exports amounting to US$2.97 billion, trailed by Spain at US$2 billion, France at US$1.28 billion, and the Netherlands at US$1.25 billion.
The growth rates were particularly notable in Germany (13.47 percent), the Netherlands (27.3 percent), Poland (13.7 percent), Denmark (18.56 percent), and Sweden (26.7 percent).
Bangladesh’s RMG sector also demonstrated growth in non-traditional markets, with an overall increase of 6.42 percent, signaling potential for further expansion.
Among these markets, Japan led with imports totaling US$721 million, followed by Australia at US$512 million, and India at US$427 million.
Exports to countries like Turkey and Mexico are also significant, amounting to US$263 million and US$208 million, respectively. While growth in Japan, Australia, India, Turkey, and Mexico is encouraging during this period, exports to Russia, Korea, China, UAE, and Malaysia have declined.
The continued growth in exports is heavily reliant on the EU and USA, which remain the primary markets for Bangladesh, highlighting further potential within these regions.
Due to ongoing global trade are reshaping the landscape, presenting opportunities that Bangladesh could capitalize on, provided we possess the necessary productive capacity said Mohiuddin Rubel, former director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Concurrently, there should be a concerted focus on investments in backward linkages to support and enhance our RMG sector’s competitiveness and growth potential, he added.
Mohiuddin Rubel also the managing director (MD) of Bangladesh Apparel Exchange and additional MD of Denim Expert Ltd, said to the new Nation due to the global unfriendly environment and some local crises like dollar crunch, high cost of raw materials we faced some hindrances, but now the overall situation is improving continue, hopefully, we will brunch back resilience position very soon.