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DHAKA, Feb 16, 2025 (BSS) - 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.

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 percent 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 percent 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 percent year-
over-year, with the USA showing a robust increase of 16.45 percent. The RMG
exports to the UK, however, grew at a more modest rate of 4.55 percent.

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 percent, 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 BSS, 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 capitalize on, provided the local
manufacturers and exporters posses the necessary productive capacity.
 
"Concurrently, there should be a concerted focus on investments in backward
linkages to support and enhance our RMG sector's competitiveness and growth
potential," he added.