Bangladesh鈥檚 readymade garment exports to its major markets, including the United States, the United Kingdom, and Europe, witnessed a considerable growth in the 10 months (July-April) of the current financial year 2024-25.
According to the country-wise detailed export data of the Export Promotion Bureau and compiled by the Bangladesh Garment Manufacturers and Exporters Association, Bangladesh exported RMG items worth $32.64 billion in July-April of FY25, a moderate increase of 10 per cent, from $29.67 billion in the mentioned period of FY24.
Apparel exporters said that due to the growing demands of brands and retailers, export earnings maintained a growth momentum for the past months despite the political upheaval.
According to EPB data, in the July-April period of FY25, Bangladesh shipped RMG items worth $16.25 billion to the European Union countries, Bangladeshi manufacturers鈥� largest market. This is 10.55 per cent higher than the $14.70 billion earned in the same period of FY24.
The export earnings from the EU covered 49.78 per cent of the total earnings.
With a robust growth rate of 15.75 per cent in the US market, Bangladesh generated $6.22 billion in the first ten months of FY25, which was higher than the $5.38 billion generated in the July-April period of FY24.
The earnings from the North American country accounted for 19.09 per cent of the total revenue.
EPB data show that RMG export earnings from the UK witnessed a narrow positive growth of 3.41 per cent to $3.63 billion, compared to $3.5 billion in the July-April period of FY24.
Bangladeshi RMG exporters shipped apparel items worth $1.05 billion in July-April of FY25, 13.86 per cent higher than the $924.7 million earned in the same period of FY24.
Among the EU countries, Germany remained Bangladesh鈥簊 largest export destination, from which the RMG manufacturers bagged $4.08 billion in July-April of FY25.
Followed by Germany, the export earnings from Spain stood at $2.85 billion, France at $1.78 billion, Netherlands at $1.72 billion, Poland at $1.37 billion, and Italy at $1.27 billion, the EPB data stated.聽
Regarding apparel exports, countries like the US, Canada, the UK, and the EU are considered traditional markets, while other countries are deemed non-traditional.
Japan, Australia, Russia, India, China, South Korea, UAE, Malaysia, Brazil, and Mexico are major non-traditional export destinations.
Export earnings from the nontraditional market also experienced positive growth, with an overall rise of 6.25 per cent to $5.48 billion, up from $5.16 billion in the FY24 period.
The nontraditional market represented 16.79 per cent of Bangladesh鈥檚 total RMG exports. Japan led these markets with imports worth $1.02 billion from Bangladesh, followed by Australia $688.23 million and India worth $563.81 million.
Moreover, RMG exports to Turkey and South Korea also witnessed significant earnings, amounting to $387.46 million and $369.70 million, respectively.聽
According to the EPB data, the export earnings from almost all major destinations witnessed a double-digit growth rate during July-April.
Faruque Hassan, former president of the Bangladesh Garment Manufacturers and Exporters Association, said the RMG sector witnessed moderate growth from July to April.
鈥楬owever, due to the US tariff fear, there was sluggishness in the orders in past few weeks. So, export may witness a negative growth in the coming months for Bangladesh and other major suppliers,鈥� he added.
He also said the government should work on the new US tariff through negotiations and diplomatic channels.
Mohiuddin Rubel, former director of the BGMEA, told 抖阴精品 that the ongoing global trade conflicts also present new opportunities for Bangladesh to explore.
鈥業n this regard, we should focus more on non-traditional markets, product diversifying and other innovations,鈥� he added.
In FY24, Bangladesh earned $38.48 billion by exporting RMG items to its global destinations.
