Bangladesh’s merchandise exports grew by an impressive 21% year-on-year to $4.13 billion in October, driven primarily by an increase in garment shipments, according to data released yesterday by the Export Promotion Bureau (EPB).
This performance brings the country’s total merchandise exports for the first four months of the 2024-25 fiscal year (July to October) to $15.78 billion, up 10.80% from the same period last year.
The garment sector, which constitutes over 84% of Bangladesh’s total export earnings, has been pivotal in this growth.
Between July and October, garment exports rose by 22.80% to $12.81 billion. Local apparel manufacturers attribute this rise to a swift recovery from shipment disruptions earlier in the year caused by nationwide student protests that affected production, cargo transport, and port operations in Chattogram.
Anwar-Ul-Alam Chowdhury (Parvez), former president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), highlighted that despite the recent recovery in shipments, many factories are still struggling to secure adequate work orders for the upcoming season.
He noted that in the July-September period, garment exports from Bangladesh to the USA—its largest single market—dropped by over 6%, coinciding with a 2% decline in overall US garment imports. He emphasized that most of Bangladesh’s apparel shipments to the US typically occur in July, August, and September to prepare for the Christmas sales season.
The EPB data shows further details on the performance of various export sectors during the July-October period. Knitwear exports climbed by 12.08% to $7.20 billion, while woven exports grew by 10.48% to $5.60 billion.
Other sectors also saw gains, with frozen food exports increasing by 10.59% to $153.18 million and leather and leather goods rising by 9.82% to $372.24 million. Non-leather footwear exports experienced significant growth, surging 36.04% to $167.11 million.
However, the jute and jute goods sector saw a 13.70% decrease to $264.81 million, continuing a decline seen over the past few years. The drop is largely attributed to anti-dumping duties imposed by India, Bangladesh’s largest jute market, and the Russia-Ukraine war, which has affected trade with Russia, another significant market for Bangladeshi jute products.
On the other hand, home textile exports are gradually recovering as international retailers and brands increase their orders. During July-October, home textile exports rose by 1.31% to $254.94 million.
