Country's RMG exports witnessed a healthy growth of 10.84 percent during the July-March period of the current fiscal year (FY25) fetching $30.25 billion that highlights the resilience and potentials of the apparel sector.
This was revealed since the Export Promotion Bureau (EPB) recently published the country-wise export data for the July-March period of the fiscal year 2024-25.
The data revealed that the European Union continues to be a pivotal market, which represented 49.82% of Bangladesh's total RMG exports, with a total value of $15.07 billion.
Exports to the United States reached $5.74 billion, representing 18.97% of the total share, while Canada totaled $963.85 million with a 3.19% market share, and the UK market was also important, with exports worth $3.36 billion, which is 11.10% of Bangladesh's total RMG exports during the specified period.
Regarding growth, Bangladesh's RMG exports to the EU grew significantly by 11.31% year-over-year, with the USA demonstrating a strong increase of 17.23% and Canada registering an increase of 15.66%. However, RMG exports to the UK exhibited a more modest growth rate of 4.14%.
Within the EU, Germany stood out as a significant market, with Bangladesh's exports valued at $3.80 billion, followed by Spain at $2.65 billion, France at $1.65 billion, Italy at $1.17 billion, Poland at $1.26 billion, and the Netherlands at $1.61 billion.
Growth rates were especially notable in Germany (10.72%), France (10.75%), the Netherlands (23.15%), Poland (10.32%), Denmark (12.80%), and Sweden (19.96%).
Bangladesh's RMG sector also showcased growth in non-traditional markets, with an overall rise of 6.66%, where total exports reached $5.12 billion, capturing 16.93% of Bangladesh's total exports, indicating potential for further expansion.
Among these markets, Japan led with imports totaling $960.45 million, followed by Australia at $653.64 million and India at $535.15 million.
Exports to countries such as Turkey and Mexico are significant as well, amounting to $357.22 million and $251.22 million, respectively, with a commendable growth rate of 20.45% by India, 10.06% by Japan, 23.44% by Mexico, and 32.54% by Turkey.
While growth in Japan, Australia, India, Turkey, and Mexico is positive during this timeframe, exports to Russia, Korea, the UAE, and Malaysia have diminished.
Negative growth in the UAE, Malaysia, and Korea suggests the need for further efforts in these markets.
The knitwear sector has shown a total growth of 11.22%, while growth has suffered particularly in non-traditional markets. The woven sector has also seen a growth of 10.40%, with slower growth in the UK but considerably higher growth in non-traditional markets.
The ongoing growth in exports significantly depends on the EU and USA, which continue to be the main markets for Bangladesh, indicating further potential within these areas.
