Staff Reporter :
Exports of the country’s ready-made garment (RMG) items have seen substantial growth to major destinations in the first eight months (July-February) of the current financial year 2024-25.
According to detailed export data from the Export Promotion Bureau, compiled by the Bangladesh Garment Manufacturers and Exporters Association, Bangladesh exported RMG items worth $26.8 billion in July-February of FY25, marking a moderate increase of 10.64 per cent from $24.22 billion in the same period of FY24.
Apparel exporters attributed this growth to the rising demand from brands and retailers, with export earnings maintaining an upward trend despite the political transition since August 5.
Industry insiders anticipate a further 10 per cent-12 per cent increase in RMG exports during the next winter season, provided there is sufficient support from banks, customs, and a stable energy supply to keep factories operating at full capacity.
During the July-February period of FY25, Bangladesh earned $13.42 billion from European Union countries, its largest market. This represented an 11.53 per cent increase compared to $12.03 billion in the same period of FY24. The EU accounted for 50.10 per cent of the total earnings.
Exports to the United States saw robust growth of 16.38 per cent, reaching $5.07 billion, up from $4.35 billion in the same period of FY24. The US, the largest single destination for Bangladesh’s RMG exports, represented 18.91 per cent of the total earnings.
Export earnings from the UK grew by 3.74 per cent, with Bangladesh earning $2.92 billion in July-February of FY25, up from $2.82 billion in the same period of FY24.
From Canada, the RMG sector earned $845.55 million, a 14.12 per cent increase from $740.91 million in the same period of FY24.
Germany remained the largest export destination within the EU, with Bangladesh earning $3.38 billion from the country in the first eight months of FY25.
Following Germany, Bangladesh’s export earnings from Spain stood at $2.35 billion, France at $1.43 billion, Italy at $1.05 billion, Poland at $1.13 billion, and the Netherlands at $1.43 billion, according to EPB data.
In terms of apparel exports, countries such as the US, Canada, the UK, and the EU are considered traditional markets, while others are classified as non-traditional. Major non-traditional export destinations include Japan, Australia, Russia, India, China, South Korea, UAE, Malaysia, Brazil, and Mexico.
