Bangladesh’s apparel exports have witnessed significant double-digit growth in major markets during the first eight months of the current fiscal year, driven by increasing demand from global brands and retailers.
According to data from the Export Promotion Bureau (EPB) for the July-February period of FY2024-25, key export destinations, including the European Union (EU), the United States (US), and Canada, recorded substantial gains. Meanwhile, the United Kingdom (UK) and non-traditional markets also posted modest growth.
Exporters noted that this is the second instance of such robust growth since the post-pandemic period. They believe that further expansion is possible with consistent utility supplies and government policy support to enhance the business environment.
Despite political shifts following a student-led uprising on August 5 last year and catastrophic floods, Bangladesh’s ready-made garment (RMG) sector has maintained its growth momentum.
EPB data shows that Bangladesh’s RMG exports grew by 10.64% year-on-year, reaching $26.79 billion globally during the eight-month period.
The EU remained the largest market, accounting for 50.10% of total RMG exports, valued at $13.42 billion. Exports to the US stood at $5.06 billion, representing 18.91% of the total, while Canada accounted for $845 million with a 3.16% share.
The UK also remained a key market, with exports worth $2.93 billion, comprising 10.94% of total RMG exports.
In terms of growth, RMG exports to the EU increased by 11.53% year-on-year, while the US recorded a strong 16.38% rise, and Canada registered 14.12% growth. However, exports to the UK grew at a more modest rate of 3.74%.
Within the EU, Germany remained the largest destination, with exports valued at $3.38 billion, followed by Spain ($2.35 billion), France ($1.43 billion), Italy ($1.05 billion), Poland ($1.13 billion), and the Netherlands ($1.43 billion).
RMG exports to non-traditional markets also posted 6.23% growth, reaching $4.52 billion, which accounted for 16.90% of the country’s total RMG exports.
