Despite global economic challenges, Bangladesh's ready-made garment (RMG) sector achieved 8.84% export growth in the fiscal year 2024-25, earning a total of USD 39.35 billion, according to data from the Export Promotion Bureau (EPB).
The European Union (EU) remained the largest export destination, accounting for USD 19.71 billion or 50.10% of the total RMG exports. The United States followed with USD 7.54 billion (19.18%), while the United Kingdom and Canada imported USD 4.35 billion (11.05%) and USD 1.30 billion (3.31%) worth of garments respectively.
In terms of year-on-year growth, exports to the EU rose by 9.10%, to the US by 13.79%, to Canada by 12.07%, and to the UK by 3.68%.
Germany was the single largest European market for Bangladesh, with exports reaching USD 4.95 billion, followed by Spain (USD 3.40 billion), France (USD 2.16 billion), the Netherlands (USD 2.09 billion), Poland (USD 1.70 billion), Italy (USD 1.54 billion), and Denmark (USD 1.04 billion).
Several European markets showed notable growth, including the Netherlands (21.21%), Sweden (16.41%), Poland (9.77%), and Germany (9.47%).
In non-traditional markets, Bangladesh saw a 5.61% rise in RMG exports, totaling USD 6.44 billion—16.36% of the total RMG exports. Among these markets, Japan, Australia, and India showed significant potential. Notably, exports to Turkey surged by 25.62%, India by 17.39%, and Japan by 9.13%. However, exports to Russia, South Korea, the UAE, and Malaysia declined.
Segment-wise, knitwear exports grew by 9.73%, while woven garments saw a 7.82% rise.
Industry experts highlight that post-COVID market dynamics are changing rapidly, bringing new challenges for Bangladesh. Traditional markets still account for around 84% of the country's total RMG exports, while non-traditional markets contribute about 16%—still relatively small given their potential.
According to the International Trade Centre (ITC), the global apparel market was worth approximately USD 500 billion in 2024, with non-traditional markets comprising USD 150 billion of that total. Bangladesh currently holds a 6% share in these emerging markets.
In 2024, 5.5% of Japan’s total apparel imports and 11.53% of Australia’s came from Bangladesh, indicating strong growth potential in the region.
Speaking to BSS, Mostafiz Uddin, Managing Director of Bangladesh Apparel Exchange and former BGMEA director, stressed the importance of market diversification and innovation.
“Expanding into new markets and developing new products is no longer just a strategy—it’s a necessity,” he said. “In today’s competitive global landscape, price alone is not enough. Bangladesh must create unique advantages to retain buyers and stay ahead of competitors.”
