Written by The Banking Post
Bangladesh’s export earnings reached US$48.28 billion in FY 2024-25, with the United States maintaining its lead as the single-largest destination. Exports to the US climbed 14.38% year-on-year to US$8.69 billion, accounting for over 18% of total shipments, according to the Export Promotion Bureau (EPB).
Germany and the UK held second and third spots with exports of US$5.29 billion (+9.11%) and US$4.62 billion (+3.23%), respectively. Meanwhile, non-traditional markets delivered standout growth: the Netherlands surged 21.72% to US$2.35 billion, Sweden rose 15.66%, and Mexico advanced 15.45%.
India has emerged as a significant buyer, importing US$1.76 billion (+12.43%), while Canada and Belgium saw increases of 11.26% and 10.72%, respectively. In contrast, exports to China fell 2.92% to US$694.5 million, Russia declined 10.24% to US$354 million, and South Korea dipped 5.89%.
Crucially, markets outside the top 20—spanning Africa, Latin America, Southeast Asia and the Middle East—grew 8.3% to US$7.18 billion. This “others” category now represents nearly 15% of total exports, making it Bangladesh’s second-largest collective market after the US.
Experts attribute this diversification to government incentives under the Export Policy 2021-24. Dr M. Masrur Reaz of Policy Exchange Bangladesh notes that sanctions and financial disruptions have hit trade with Russia, while deflationary pressures in China have made local manufacturers more competitive.
BGMEA President Mahmud Hasan Khan Babu highlighted ongoing efforts in both market and product diversification for the RMG sector. He added that further growth hinges on reliable gas and electricity supplies, streamlined government support, and sustained policy backing.
