RMG exports down 3.7pc in first eight months of fiscal

Bangladesh's Readymade Garment (RMG) exports recorded a 3.73 per cent year-on-year decline, totaling US$ 25.80 billion during the July-February period of the current fiscal year 2025-26, reports UNB.
According to the latest data from the Export Promotion Bureau (EPB), the sector-the backbone of the country's export earnings-is facing a downward trend across several key markets compared to the same period in the previous fiscal.
The European Union (EU) remains the largest destination for Bangladeshi apparel, accounting for nearly half 49.18 per cent of total RMG exports.
However, earnings from the EU fell by 5.49 per cent, dropping to US$ 12.69 billion.
The United States, the second-largest market for Bangladesh, also saw a slight contraction. Exports to the USA reached US$ 5.03 billion, representing a 0.74 per cent decrease year-on-year.
Bucking the general downward trend, exports to the United Kingdom and Canada showed resilient growth:
United Kingdom: Exports rose by 1.22 per cent to reach US$ 2.97 billion.
Canada: Recorded a growth of 3.08 per cent, with export earnings standing at US$ 871.58 million.
Earnings from non-traditional markets took a hit, declining by 6.34 per cent to US$ 4.24 billion. These markets now hold a 16.44 per cent share of the total RMG export basket.
In terms of product categories, both major segments saw a decline.
Knitwear recorded a 4.56 per cent decrease, while Woven Garments posted a 2.79 per cent decrease.
Mohiuddin Rubel, Additional Managing Director of Denim Expert Ltd. and former Director of BGMEA, said that the overall performance reflects the ongoing global economic shifts and their subsequent impact on consumer demand in traditional strongholds.