RMG Exports Up 10.84% in July–March

Bangladesh’s ready-made garment (RMG) sector posted a robust growth of 10.84 percent during the first nine months of the current fiscal year (FY2024–25), with total export earnings reaching $30.25 billion. The latest data, released by the Export Promotion Bureau (EPB), highlight the sustained momentum and resilience of the country’s leading export sector amid a volatile global trade environment.

The report underscores the continued dominance of traditional markets, particularly the European Union, which absorbed nearly half—49.82 percent—of the total RMG exports, amounting to $15.07 billion. The United States remained the second-largest destination with exports totalling $5.74 billion, accounting for 18.97 percent of the total share, while the United Kingdom and Canada followed with earnings of $3.36 billion and $963.85 million respectively.

Export performance in these key markets remained strong, with significant year-on-year growth. Shipments to the United States increased by 17.23 percent, while exports to the EU grew by 11.31 percent. Canada also saw a notable rise of 15.66 percent. The UK market, although still important, witnessed a comparatively modest growth of 4.14 percent over the same period.

Within the European Union, Germany emerged as the top destination, with Bangladeshi RMG exports valued at $3.80 billion. Other notable markets included Spain, France, the Netherlands, Poland, and Italy. The Netherlands demonstrated the highest growth among EU nations at 23.15 percent, followed by Sweden with 19.96 percent, France with 10.75 percent, and Denmark with 12.80 percent.

Alongside the growth in traditional destinations, Bangladesh’s RMG exports also expanded in non-traditional markets. During the July–March period, exports to these emerging markets rose by 6.66 percent, reaching $5.12 billion and comprising 16.93 percent of the country’s total RMG export earnings. Among them, Japan led the way with imports worth $960.45 million, followed by Australia at $653.64 million and India at $535.15 million. Encouragingly, exports to Turkey and Mexico also saw remarkable increases, reflecting a diversification in Bangladesh’s global garment footprint. Turkey recorded a 32.54 percent rise in imports from Bangladesh, while Mexico registered growth of 23.44 percent.

However, not all non-traditional markets fared equally well. RMG exports to countries like Russia, South Korea, the United Arab Emirates, and Malaysia declined during the reporting period. These trends indicate areas that may require renewed diplomatic and trade engagement to regain lost ground and stimulate demand.

In terms of product category, both knitwear and woven garments continued to drive export performance. Knitwear exports grew by 11.22 percent, while woven garments increased by 10.40 percent. While knitwear performed well overall, growth in non-traditional markets was comparatively slower, suggesting the need for more targeted strategies in those regions. Woven products, on the other hand, gained greater traction in emerging markets despite slower growth in mature markets like the UK.

Industry insiders view these figures as an affirmation of the sector’s underlying strength and adaptability. Speaking to BSS, Mohiuddin Rubel, former Director of BGMEA and Managing Director of Bangladesh Apparel Exchange, said the growth reflects the significant role of traditional markets in sustaining the country’s RMG momentum. At the same time, the moderate rise in non-traditional markets underlines the untapped potential that lies ahead.

Rubel stressed the need for increased research and market-specific strategies to boost export performance in emerging economies. He also noted that persistent global trade tensions and the shifting dynamics of international sourcing offer new opportunities for Bangladesh, provided the country positions itself strategically.

As the RMG sector remains the lifeline of Bangladesh’s export economy, the latest figures are a testament to its endurance and capacity to adapt. Yet, sustaining this growth will require not only continued engagement with traditional markets but also a stronger focus on diversifying into new regions to reduce overdependence and build long-term resilience.