The United States remained the single largest export destination for the Bangladeshi products in the recently concluded financial year 2024-25, with export earnings reaching $8.69 billion.
According to the Export Promotion Bureau data, the export earnings witnessed a positive growth of 14.4 per cent, which was $7.60 billion in FY24.
In FY25, Bangladesh bagged exports earnings worth $48.28 billion, fetching a growth of 8.6 per cent from $44.47 billion in FY24.
Among total export earnings, the share of the earnings from the US was about 18 per cent, said the EPB data.聽
Readymade garments accounted for almost 90 per cent of the total exports to the US.
Among the other major export destinations, Bangladesh bagged $5.29 billion from Germany, $4.62 billion from the United Kingdom, $3.55 billion from Spain, and $2.42 billion from France with moderate positive growth from each destination, the EPB data stated.
However, the businesses expressed their concern that the recently announced 35 per cent tariff on Bangladeshi products, which might make a major blow to the exports to Bangladesh鈥檚 single largest export destination.
To reduce the tariff, a high level delegation of Bangladesh is in negotiations with its US counterparts from Wednesday.聽
According to the chief adviser press wing,聽the first day of the second round of three-day tariff talks between Bangladesh and the US were very comprehensive, touching upon almost all the key aspects of the trade relationships between the two nations.聽
Commerce Adviser Sheikh Bashiruddin is leading the Bangladesh delegation in Washington DC.
National security adviser Khalilur Rahman, and the chief adviser鈥檚 special assistant on ICT and telecommunications, Faiz Ahmed Tayeb, joined the talks virtually from Dhaka. Senior commerce ministry officials also attended the meeting in the US capital.
On Wednesday,聽Mahmud Hasan Khan Babu, president of the Bangladesh Garment Manufacturers and Exporters Association, told 抖阴精品 that they would request the chief adviser to appoint a lobbyist to strengthen Bangladesh鈥檚 position in tariff negotiations and to persuade Washington to lower the rate.
鈥榃e want an effective solution with the help of the government and we request the chief adviser to involve himself in the matter,鈥� he added.
Mahmud Hasan observed that the exporters who solely worked with the US would face a substantial blow due to the tariff hike.
鈥業t would be challenging to find new destinations for them and if they couldn鈥檛 manage it, incidents of closing factories and losing jobs would be imminent,鈥� he added.
He also said that if the tariffs for the competitor countries were lower, the buyers would go with them.
In 2024,聽Bangladesh exported about $8.4 billion in goods to the US and Bangladesh imported US goods worth $2.2 billion.