Bangladesh's export-earning target for the current financial year is set downbeat at US$63.4 billion compared to the last fiscal's original fixation, reflective of not-so-inspiring world trade situation.
However, the 2026-27 target marks a 15-percent growth over the actual export receipts in the last fiscal year.
Of the total, the earnings target from merchandise export has been set at $55.2 billion, up 15 per cent from the past actual earnings of $48 billion.
Commerce Minister Khandakar Abdul Muktadir made the announcement at a press conference at his secretariat office on Sunday, on a note of optimism that the target can be achieved by the yearend.
The country's export-earning target--both for merchandise and services- was fixed at $$63.5 billion while the actual earnings came to $55 billion in the just-past fiscal.
The new government is betting on policy stability, expanded trade pacts, and targeted industrial diversification to revive its export engine after missing its targets in the previous fiscal year, as noted by the commerce minister.
Speaking on the sector's recent spell of sluggish growth, the minister expressed the confidence that the country would soon regain momentum, bolstered by business-friendly measures in the national budget and a stable policy environment under the newly elected government.
Mr Muktadir said central to the government's strategy is breaking the country's heavy reliance on the ready-made garment (RMG) sector, which currently accounts for roughly 85 per cent of Bangladesh's total export basket.
"To broaden the base, four non-apparel sectors have been slated for priority support and expansion."
The sectors are leather and leather goods, shipbuilding and ship recycling, light engineering, information technology (IT) and trade negotiation acceleration, he explains.
The commerce minister has mentioned that to secure broader market access ahead of Bangladesh's upcoming graduation from least- developed country (LDC) status, Dhaka is pushing aggressively on the diplomatic front.
"Negotiations on free-trade agreements (FTAs) with South Korea and the United Arab Emirates (UAE) are nearing completion, with plans to wrap up trade talks with four to five additional nations by December," he told reporters.
Meanwhile, the landmark Economic Partnership Agreement (EPA) with Japan is set to be tabled in the upcoming parliament session for ratification, and the European Union (EU) has expressed interest in launching formal FTA talks, he added.
Addressing concerns over the LDC transition, the minister noted that uncertainty surrounding the process had largely been cleared. Exporters will continue to benefit from existing duty-free market-access facilities for a three-year grace period post-graduation.
On the domestic front, energy shortages remain one of the primary headwinds for manufacturers and exporters.
The minister said to resolve fuel constraints and keep factories running, the government is working to deploy two additional Floating Storage and Regasification Units (FSRUs). The expansion aims to boost liquefied natural gas (LNG)-import capacity and stabilise energy supplies for critical industrial hubs.
Despite ongoing geopolitical conflicts and global economic volatility, he holds the hope that improved domestic business conditions, new trade alliances, and targeted infrastructure investments will position the country to meet its export targets and sustain long-term growth.
Commerce secretary Md Ataur Rahman Khan, the Export Promotion Bureau (EPB) chairman, senior officials and trade and business leaders were present at the press conference.
"The export target for FY'27 is achievable, but its attainment will depend on both domestic and external factors," Md. Ezazul Islam, Director-General of Bangladesh Institute of Bank Management (BIBM), told The Financial Express.
Dr. Islam, also a former executive director of Bangladesh Bank (BB), said the government must ensure an adequate and uninterrupted supply of electricity and gas to industrial units to support export-oriented production. He has also stressed the need for effective measures to diversify export destinations while sustaining Bangladesh's existing markets to achieve the country's export target.
On the other hand, apparel exporters have cast doubt on the government's ability to achieve its export target for FY'27, saying that the projected 15-percent growth is "unrealistic" amid persistent energy shortages, weak global demand, falling prices and mounting external pressures.
Talking to The FE, former BGMEA president Faruque Hassan said he was surprised by the "ambitious" target setting.
"When our logistics and utility supplies remain inadequate, how can the government expect the sector to deliver 15-percent export growth?" he asked.
The global apparel demand remained sluggish last year, he said, claiming that Bangladesh has already lost to Vietnam its position as the world's second-largest apparel exporter during the January-May period this year. "Order inflows have slowed significantly, and buyers are forcing exporters to accept lower prices. Under these circumstances, achieving such a high growth target will be extremely challenging," Faruque Hassan said.
Echoing the concerns, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem said the industry had opposed the proposed 15-percent-growth target during consultations with the government, arguing that it did not reflect the sector's current realities.
Mr. Hatem said export earnings remained under pressure throughout the previous fiscal year, with growth staying in negative territory at the end of FY'26.
"If the overall business environment has not improved, how can exports grow by 15 per cent? Even achieving 10-percent growth will be difficult unless the situation changes substantially," he notes.
rezamumu@gmail.com