Bangladesh’s export performance for FY 2024-2025, according to the Export Promotion Bureau (EPB), has shown solid growth, reaching total export earnings of $48.28 billion.
This represents an 8.58% increase from the previous year’s export earnings of $44.47 billion.
The country’s export target of $50 billion was almost achieved, with 96.57% of the target met.
Key markets such as the United States, the European Union, and Germany have driven much of this growth, with the garment sector continuing to dominate Bangladesh’s exports.
The US: The largest export destination
The United States remains Bangladesh’s top export market, accounting for $8.69 billion in FY 2024-2025.
This represents 18% of Bangladesh’s total exports.
The US market saw a significant 14.38% growth in exports from Bangladesh, highlighting the sustained demand for Bangladeshi textiles, particularly in the garment sector.
Major products exported to the US include woven garments ($4.95 billion), knitwear ($2.6 billion), home textiles ($149.49 million), and caps ($258.74 million).
The European Union: A strong market with steady growth
The European Union (EU) continues to be the largest regional market for Bangladesh, with exports reaching $21.38 billion, making up 44.29% of the total exports.
The EU’s preference for Bangladeshi textiles, aided by duty-free access under the Generalized System of Preferences (GSP), remains a key factor in this strong performance.
Leading export items to the EU include knitwear ($10.6 billion), woven garments ($8.6 billion), and home textiles ($2.3 billion).
The EU’s consistent demand, especially from countries like Germany, France, and the UK, is crucial for Bangladesh’s export success.
Germany: A growing market for Bangladeshi goods
Germany remains Bangladesh’s second-largest export market within the EU, with exports totaling $5.29 billion, accounting for 10.96% of total exports.
Germany continues to demand Bangladeshi garments, with knitwear exports totaling $3.06 billion and woven garments at $1.89 billion.
Additionally, the bicycle sector has shown promise in Germany, with exports rising to $37.34 million.
Other major markets: Expanding beyond traditional destinations
Alongside the US, the EU, and Germany, Bangladesh has made strong inroads into markets like the United Kingdom, France, Spain, and Italy.
Exports to the UK reached $4.62 billion, with knitwear and woven garments being the dominant products.
France imported $2.42 billion, while Spain’s imports stood at $3.55 billion.
Both countries continue to be significant markets for Bangladesh’s textiles.
Challenges and opportunities in India
Bangladesh’s trade with India has faced some challenges, particularly in the past year, with increasing trade barriers impacting exports.
Non-tariff barriers have caused disruptions for Bangladeshi exporters.
Despite these challenges, Bangladesh’s export to India still saw a 12.43% increase, reaching $1.76 billion.
This highlights the potential for deeper regional integration, despite the obstacles.
Diversification beyond garments stressed
While the garment sector remains the backbone of Bangladesh’s exports, the country is making efforts to diversify its export portfolio.
Non-textile sectors such as pharmaceuticals, plastics, leather, and engineering products have shown promising growth.
With ongoing efforts to reduce dependency on garments, Bangladesh aims to strengthen its position in these new markets, ensuring long-term sustainability and competitiveness in global trade.
In conclusion, Bangladesh’s export performance for FY 2024-2025 shows encouraging growth across key markets, although challenges in regional trade and the need for diversification remain pressing issues.
By continuing to build on these successes and addressing trade barriers, Bangladesh can enhance its global presence and achieve sustained economic growth.