RMG exports increase by 8.84pc in July-June

The Export Promotion Bureau (EPB) has published country-wise export data for Bangladesh from July to June of FY2024-25, showing a positive trend in the ready-made garment (RMG) sector, which achieved $39.35 billion in exports, an increase of 8.84%.

The European Union is a key market, accounting for 50.10% of total RMG exports, valued at $19.71 billion. Exports to the United States were $7.54 billion (19.18%), while Canada and the UK contributed $1.30 billion (3.31%) and $4.35 billion (11.05%), respectively.

Year-on-year growth in RMG exports showed increases of 9.10% for the EU, 13.79% for the USA, and 12.07% for Canada. The UK saw a modest growth of 3.68%.

In the EU, Germany was the largest market for RMG, with exports at $4.95 billion, followed by Spain $3.40 billion, France $2.16 billion, the Netherlands $2.09 billion, Poland $1.70 billion, Italy $1.54 billion, and Denmark $1.04 billion.

Growth rates were high in several EU countries, such as the Netherlands (21.21%), Sweden (16.41%), Poland (9.77%), and Germany (9.47%).

Bangladesh's RMG exports also saw a 5.61% rise in non-traditional markets, totalling $6.44 billion with a 16.36% market share for Bangladesh.

Japan, Australia, and India were the leading markets in this category, with Turkey seeing 25.62%, India 17.39%, and Japan 9.13% growth rates. However, exports to Russia, Korea, the UAE, and Malaysia declined which is a concern.

In the textile industry, the knitwear sector has shown a remarkable growth of 9.73%, with the woven sector also experiencing an increase of 7.82%.