By Mohiuddin Rubel
Former Director, BGMEA | Managing Director, Bangladesh Apparel Exchange | Additional Managing Director, Denim Expert Ltd
The Export Promotion Bureau (EPB) has recently published the country-wise export data for the July–March period of the fiscal year 2024–25, revealing a robust performance by Bangladesh’s Ready-Made Garment (RMG) sector. According to the report, Bangladesh’s RMG exports reached a total of US$30.25 billion in the first nine months of the fiscal year, a 10.84% year-on-year growth. This positive trajectory reinforces the resilience and competitiveness of the country’s RMG industry in the face of global economic uncertainties.
Traditional Markets Drive Growth
The European Union (EU) remains the largest destination for Bangladesh’s RMG exports, accounting for 49.82% of total shipments. Exports to the EU reached US$15.07 billion, showing a strong year-over-year growth of 11.31%.
Among the EU countries:
- Germany imported US$3.80 billion, growing by 10.72%
- Spain received US$2.65 billion
- France accounted for US$1.65 billion, growing 10.75%
- Italy imported US$1.17 billion
- Poland saw imports of US$1.26 billion, with 10.32% growth
- The Netherlands imported US$1.61 billion, showing a significant 23.15% growth
- Other notable growths include Denmark (12.80%) and Sweden (19.96%)
The United States, another key trading partner, received US$5.74 billion in RMG products, making up 18.97% of total exports and showing a notable 17.23% year-on-year growth.
The United Kingdom imported US$3.36 billion, representing 11.10% of total RMG exports. However, growth in the UK market was comparatively modest at 4.14%. Meanwhile, Canada received US$963.85 million, which is 3.19% of the total, and registered a 15.66% growth.
Emerging and Non-Traditional Markets Show Promise
Bangladesh’s RMG exports to non-traditional markets also demonstrated resilience, growing by 6.66% and totalling US$5.12 billion–16.93% of the country’s total exports during this period.
Key highlights from non-traditional markets include:
- Japan: US$960.45 million, up 10.06%
- Australia: US$653.64 million
- India: US$535.15 million, with an impressive 20.45% growth
- Turkey: US$357.22 million, growing by 32.54%
- Mexico: US$251.22 million, with 23.44% growth
While these figures reflect promising trends, certain markets such as Russia, South Korea, UAE, and Malaysia have reported declining exports, likely due to geopolitical tensions and local economic challenges. These setbacks signal the need for strategic initiatives and market diversification to mitigate such risks.
Sub-Sector Performance
- The knitwear segment experienced a healthy 11.22% growth overall, although gains in non-traditional markets were relatively lower.
- The woven garments segment grew by 10.40%, with sluggish growth in the UK offset by stronger performance in newer markets.
Strategic Implications and Outlook
The continued strength of traditional markets—particularly the EU and USA—reaffirms their central role in Bangladesh’s export landscape. However, the modest yet consistent growth in non-traditional markets underlines the sector’s potential for broader global outreach.
In light of ongoing global trade realignments and economic challenges, Bangladesh must explore new market frontiers and strengthen its foothold in emerging economies. The positive growth in countries such as India, Turkey, and Mexico highlights the opportunities that lie ahead.
Moving forward, strategic diversification, sustainable practices, and continued innovation will be key to sustaining export momentum, reducing over-dependence on traditional markets, and capturing a larger share of the global apparel trade.
