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Bangladesh has set an ambitious export target of $65 billion for the current fiscal year (2025-26), banking on growth across key sectors despite uncertainties in global trade.

The new target, which reflects a 17.22% increase from the estimated $55.45 billion earned in FY2024-25, includes $56.5 billion from goods exports and $8.5 billion from services, according to officials at the Ministry of Commerce.

Initial estimates by the Export Promotion Bureau (EPB) had proposed a slightly lower target of $63.5 billion. However, the Commerce Ministry later revised the projection upwards by $1.5 billion, factoring in potential growth in sectors such as readymade garments (RMG), leather, jute, and home textiles.

Commerce Ministry officials said the final target is expected to be formally announced next week, after the commerce adviser and secretary return from the US, where they are engaged in critical negotiations over the newly announced 35% reciprocal tariff on Bangladeshi goods.

In FY2024-25, Bangladesh’s export earnings reached an estimated $55.45 billion, comprising $48.28 billion from goods and $7.16 billion from services — marking an 8.48% year-on-year growth.

Focus on key sectors
For FY26, the EPB has identified ten major product categories to drive export performance. The RMG sector remains central, with a projected $44.49 billion target — up 13.07% from last year. Knitwear is expected to bring in $23.7 billion (12.01% growth), while woven garments aim for $20.79 billion (14.31% growth).

However, apparel exporters warn that failure to resolve the US tariff issue could hurt growth prospects in Bangladesh’s largest export market.

The home textile sector is targeted at $1.02 billion, expecting a strong rebound of 17.03% after a modest previous year. The jute and jute goods sector, which saw a 4.10% contraction in FY25, is targeting $1.0 billion, aiming for a recovery driven by global demand for eco-friendly products.

The leather and leather products sector has been set a target of $1.25 billion, a 9.16% increase. Pharmaceuticals aim for $235 million (10.25% growth), and agricultural products are projected to rise sharply by 22.43% to $1.21 billion.

Other targets include engineering products at $627 million (17.07% growth) and frozen and live fish at $539 million (22.06% growth).

Policy, market outlook, and risks
Officials say the target was set after analysing global economic trends, inflation, exchange-rate movements, and policy shifts in key export markets. Reports from the WTO and IMF, buyer order trends, and domestic capacity were also considered.

The export goal aligns with the government’s broader plan to reach $110 billion in exports by FY2026-27, and $150 billion by 2030, under the Export Policy 2024-27.

An EPB review of last fiscal year found that only 19 of 61 foreign missions achieved their assigned export targets, while just three of 20 commercial wings met their goals.

BKMEA president Mohammad Hatem said exporters are “deeply concerned” about the new US tariffs. “If the newly imposed 35% tariff is added to the existing 15%, it will be disastrous,” he warned, though expressing hope for a positive outcome from negotiations.

Hatem also suggested exploring non-traditional markets in Asia and Russia to diversify exports and help achieve the FY26 target.