Merchandise exports rose 6.34 per cent year-on-year to $13.09 billion in the first quarter of fiscal year 2026-27, although earnings declined for a second consecutive month, signalling weaker momentum despite overall growth.
According to the latest data from the Export Promotion Bureau (EPB), the export industry earned $3.94 billion from merchandise exports in September, an 8.54 per cent increase from $3.63 billion a year earlier. On a month-on-month basis, however, September earnings fell 11.11 per cent from $4.43 billion in August.
The decline extends a weakening monthly trend that began in August, when exports fell 6.30 per cent from July. Bangladesh earned about $4.72 billion from merchandise exports in July, according to EPB data reported at the time.
The consecutive monthly declines have not yet erased the broader gains for the quarter. Exports during July-September stood at $13.09 billion, compared with $12.31 billion in the corresponding period of the previous fiscal year.
The latest figures come as exporters continue to raise concerns about shortages of gas and electricity, which have disrupted industrial production. In August, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Executive President Fazlee Shamim Ehsan said the gas crisis had disrupted factory production and affected the availability of fabric from local spinning mills.
Despite those constraints, the ready-made garment sector remained the main driver of export growth. Apparel shipments rose 6.10 per cent year-on-year to $10.58 billion during the July-September period, accounting for the vast majority of merchandise exports. In September alone, RMG exports increased 8.56 per cent to $3.08 billion.
Both major apparel segments recorded growth during the quarter. Knitwear exports rose 6.88 per cent to $5.96 billion, while woven garment exports increased 5.11 per cent to $4.61 billion.
Several non-RMG sectors performed strongly compared to the overall export sector. Pharmaceutical exports rose 40.39 per cent during the quarter, while jute and jute goods shipments increased 31.55 per cent. Light engineering products grew 16.51 per cent, leather and leather manufactures 14.74 per cent, and home textiles 11.94 per cent.
The gains were uneven across sectors. Agricultural products and frozen and live fish exports declined during the quarter.
The United States remained largest export destination in the July-September period, with shipments worth $2.59 billion, up 11.34 per cent from a year earlier. The United Kingdom followed with $1.37 billion, an increase of 6.48 per cent, while exports to Germany rose marginally to $1.22 billion.
Exports to Spain increased 13.87 per cent to $1.20 billion and shipments to the Netherlands rose 7.15 per cent to $674.83 million. Exports to India increased 5.44 per cent to $510 million.
Among other major markets, exports to China rose 9.33 per cent to $225.41 million and shipments to Türkiye more than doubled to $210.54 million. Exports to Saudi Arabia and the United Arab Emirates also increased during the quarter.
The performance across European markets was more mixed. Shipments to France fell 3.71 per cent, while exports to Italy, Denmark and Belgium declined 5.77 per cent, 15.94 per cent and 13.51 per cent, respectively, during the first quarter.
The September figures showed a similar divergence across markets. Exports to the US rose 9.89 per cent year-on-year, while shipments to the UK increased 11.48 per cent. Exports to Spain rose 19.24 per cent, Poland 32.74 per cent and China 24.28 per cent.
At the same time, exports to Italy fell 19.82 per cent and Belgium declined 18.49 per cent in September. Shipments to Germany also fell, by 1.86 per cent.
The first-quarter figures therefore point to a positive overall export performance, but the monthly trajectory is becoming a concern. Merchandise export earnings have fallen from about $4.72 billion in July to $4.43 billion in August and $3.94 billion in September.
While the August decline was previously reported at 6.30 per cent month-on-month, September brought a further 11.11 per cent drop, leaving exporters facing a weaker monthly run rate even as cumulative earnings remain above the level recorded a year earlier.
