Bangladesh’s ready-made garment (RMG) exports recorded moderate growth in the first seven months of the 2024-25 fiscal year, with the European Union continuing as the dominant market, according to data from the Export Promotion Bureau (EPB).
Former BGMEA director Mohiuddin Rubel said on Sunday that the EU accounted for 50.15% of total RMG exports, valued at $11.81 billion. Exports to the United States reached $4.47 billion, representing 18.99% of the total, while the UK received $2.5 billion, or 10.83%.
Year-over-year, exports to the EU grew by 13.91%, while the US market saw a stronger increase of 16.45%. The UK, however, recorded a modest 4.55% growth. Within the EU, Germany led with $2.97 billion in imports, followed by Spain ($2 billion), France ($1.28 billion), and the Netherlands ($1.25 billion). Notably, the Netherlands saw a 27.3% rise, Sweden 26.7%, and Denmark 18.56%.
Bangladesh’s RMG exports also expanded by 6.42% in non-traditional markets. Japan remained the top destination, importing $721 million, followed by Australia ($512 million) and India ($427 million). Turkey and Mexico also contributed $263 million and $208 million, respectively. However, exports to Russia, Korea, China, the UAE, and Malaysia declined.
As the EU and US remain critical markets, industry leaders emphasize the need for investments in backward linkages to sustain growth and competitiveness amid shifting global trade dynamics.
