Written by The Banking Post
The government has set an ambitious export earnings target of $63.5 billion for the fiscal year 2025–26 (FY’26), projecting a 16.5 percent growth from last year’s receipts.
Of the total, $55 billion is targeted from merchandise exports—up 13.4 percent from the $48.28 billion earned in FY’25—while the services sector has been set an $8.5 billion goal, marking an 18.67 percent increase from the $7.5 billion achieved last fiscal year.
The merchandise target includes $20.79 billion from woven garments, $23.70 billion from knitwear, $1.85 billion from leather, leather goods and footwear, $1.02 billion from home textiles, $1.21 billion from agricultural products, $900 million from jute and jute goods, and $539 million from frozen and live fish.
Commerce Secretary Mahbubur Rahman announced the targets at a press conference at the Secretariat on Tuesday, noting that they were set after consultations with stakeholders. Commerce Adviser Sk Bashir Uddin, along with senior ministry officials, trade body representatives, and state agency delegates, was also present.
“All prevailing factors have been considered in setting the targets,” said the commerce adviser, adding that the ministry will continue engaging with industry leaders to address sector-specific bottlenecks.
The adviser described the targets as “attainable,” citing ongoing efforts to diversify export products, explore non-traditional markets, and secure free trade agreements (FTAs) with countries including Japan, South Korea, and Singapore. Negotiations are also underway to reduce the United States’ reciprocal tariff on Bangladeshi products from 20 percent to 15 percent, alongside initiatives to expand duty-free access to the UK and European Union.
Regarding India’s recent restriction on importing four types of Bangladeshi jute products via land ports, Bashir Uddin said the move would not adversely impact overall exports.
Industry leaders expressed optimism about meeting the target. Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem said achieving the $63.5 billion goal was feasible if issues such as the gas crisis, banking constraints, customs inefficiencies, and law-and-order concerns were addressed. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohammad Hasib Uddin echoed the sentiment, noting that overcoming these challenges could even push export earnings beyond the target.
Last fiscal year, the country’s combined merchandise and services export target was $57.5 billion, with actual receipts reaching $54.05 billion.
