Bangladesh's Ready-Made Garment (RMG) exports experienced moderate growth during the July-January period of the current fiscal year (FY25) with the European Union (EU) continuing to be a pivotal market, reports BSS.
The Export Promotion Bureau's (EPB's) recently published country-wise export data for the July-January period of the current fiscal year (2024-25) showed such trend.
The EU represented 50.15 per cent of Bangladesh's total RMG exports, with a total value of US $11.81 billion. Shipments to the United States reached $4.47 billion, accounting for 18.99 per cent of the total share, while the UK market was also significant, with exports valued at $2.5 billion, equivalent to 10.83pc of Bangladesh's total RMG exports during the specified timeframe.
In terms of growth, the RMG exports to the EU expanded by 13.91 per cent year-over-year, with the USA showing a robust increase of 16.45 per cent. The RMG exports to the UK, however, grew at a more modest rate of 4.55 per cent.
Within the EU, Germany emerged as a key market, with Bangladesh's exports amounting to $2.97 billion, trailed by Spain at $2 billion, France at $1.28 billion, and the Netherlands at $1.25 billion. The growth rates were particularly notable in Germany (13.47pc), the Netherlands (27.3pc), Poland (13.7pc), Denmark (18.56pc) and Sweden (26.7pc).
Bangladesh's RMG sector also demonstrated growth in non-traditional markets, with an overall increase of 6.42 per cent, signaling potential for further expansion.
Among these markets, Japan led with imports totaling $721 million, followed by Australia at $512 million, and India at $427 million.
Exports to countries like Turkey and Mexico are also significant, amounting to $263 million and $208 million, respectively.
While growth in Japan, Australia, India, Turkey, and Mexico is encouraging during this period, exports to Russia, Korea, China, the United Arab Emirates (UAE), and Malaysia have declined.
The continued growth in exports is heavily reliant on the EU and the United States of America (USA), which remain the primary markets for Bangladesh, highlighting further potential within these regions.
Talking to the news agency, Mohiuddin Rubel, former director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), managing director (MD) of Bangladesh Apparel Exchange and also additional MD of Denim Expert Ltd, said the ongoing global trade tensions are reshaping the landscape, presenting opportunities that Bangladesh could capitalise on, provided the local manufacturers and exporters posses the necessary productive capacity.
