RMG exports grow by 8.84% in FY25

Bangladesh’s RMG Exports Grow 8.84% in FY25, Totaling $39.35 Billion

Despite facing global economic headwinds, Bangladesh's Ready-Made Garment (RMG) exports grew by a solid 8.84% in the fiscal year 2024–25 (FY25), earning $39.35 billion, according to data from the Export Promotion Bureau (EPB).

The European Union remained the largest destination for Bangladeshi apparel, accounting for 50.10% of total RMG exports, valued at $19.71 billion, BSS reports. The United States was the second-largest market with $7.54 billion in exports (19.18%), followed by the United Kingdom with $4.35 billion (11.05%) and Canada with $1.30 billion (3.31%).

Year-on-year, export growth to the US stood at 13.79%, to the EU at 9.10%, and to Canada at 12.07%. Exports to the UK saw more modest growth of 3.68%.

Within the EU, Germany was the top importer, buying $4.95 billion worth of Bangladeshi garments, 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). Several EU markets posted double-digit growth, including the Netherlands (21.21%), Sweden (16.41%), Poland (9.77%), and Germany (9.47%).

RMG exports to non-traditional markets rose by 5.61% to $6.44 billion, representing 16.36% of the total share. Key non-traditional destinations included Japan, Australia, and India. Notable growth was recorded in Turkey (25.62%), India (17.39%), and Japan (9.13%). However, exports to Russia, South Korea, the UAE, and Malaysia saw declines.

In terms of product categories, knitwear exports posted a strong 9.73% increase, while woven garments rose by 7.82%.

Industry insiders note that since the COVID-19 pandemic, the global trade environment has been highly volatile, bringing continuous new challenges. Nonetheless, Bangladesh has maintained strong performance in traditional markets, which accounted for 84% of total apparel exports.

The non-traditional market, however, remains underutilized, with only a 16% share. According to the International Trade Centre (ITC), the global apparel market reached approximately $500 billion in 2024, with $150 billion attributed to non-traditional markets. Bangladesh currently holds a 6% share of that segment, indicating significant potential for expansion.

In 2024, Bangladesh supplied 5.50% of Japan’s total apparel imports and 11.53% of Australia’s, signaling room for future growth in those markets.