EPB Country wise data showing a positive trend in the Ready-Made Garment (RMG) sector, The Export Promotion Bureau (EPB) has published country wise export data for Bangladesh from July to June 2024-25, showing a positive trend in the Ready-Made Garment (RMG) sector, which achieved US$39.35 billion in exports, an increase of 8.84%. The European Union is a key market, accounting for 50.10% of total RMG exports, valued at US$19.71 billion. Exports to the United States were US$7.54 billion (19.18%), while Canada and the UK contributed US$1.30 billion (3.31%) and US$4.35 billion (11.05%), respectively.
Year-over-year growth in RMG exports showed increases of 9.10% for the EU, the USA 13.79%, and Canada 12.07%. The UK saw a modest growth of 3.68%. In the EU, Germany was the largest market for RMG, with exports at US$4.95 billion, followed by Spain US$3.40 billion, France US$2.16 billion, Netherlands US$2.09 billion, Poland US$1.70 billion, Italy US$1.54 billion and Denmark US$1.04 billion, Growth rates were high in several EU countries, such as the Netherlands (21.21%), Sweden (16.41%), Poland (9.77%) and Germany (9.47%).
Bangladesh’s RMG exports also saw a 5.61% rise in non-traditional markets, totaling US$6.44 billion with a 16.36% market share for Bangladesh. Japan, Australia, and India were the leading markets in this category, with Turkey seeing 25.62%, India 17.39%, and Japan 9.13% growth rate. However, exports to Russia, Korea, the UAE, and Malaysia declined which is a concern.
In the textile industry, the knitwear sector has shown a remarkable growth of 9.73%, with the woven sector also experiencing an increase of 7.82%.
Since the onset of COVID-19, the global landscape has taken unexpected turns, presenting us with a cascade of new challenges each day with new issues.
In the realm of traditional markets, our performance remains robust, boasting an impressive 84% share of our total apparel exports. However, the non-traditional market tells a different story, with our current stake standing at a modest 16%. The International Trade Centre (ITC) reports that the global apparel market reached approximately 500 billion USD in 2024. Within this, the nontraditional market accounted for about 150 billion USD. Bangladesh, holding a 6% share of the nontraditional market, shows significant potential for expansion. In 2024, Bangladesh contributed 5.50% to Japan’s total imports and 11.53% to Australia’s total imports, indicating a promising trajectory for growth.
Adapting to this dynamic environment underscores the critical need for us to focus on cultivating fresh markets and products through relentless innovation to maintain our competitive edge. Embracing innovation and venturing into new territories is not just a strategic move but a necessity in today’s evolving landscape. Let’s harness this potential and steer our course towards greater market diversification and expansion. Staying competitive in today’s market goes beyond just pricing. To truly stand out, you must maintain competitive advantages over rival countries which are essential to becoming the top choice for your customers. It’s not just about the cost; it’s about offering unique benefits that set you apart and keep you ahead in the game.
Mohiuddin Rubel
Former Director, Brand BGMEA
Managing Director, Bangladesh Apparel Exchange
Additional Managing Director, Denim Expert Ltd.
