Bangladesh's RMG exports surge 12% in first 7 months of FY24–25

07 Feb '25

2 min read

Bangladesh's RMG exports surge 12% in first 7 months of FY24–25

Pic: Adobe Stock

Insights

Between July 2024 and January 2025, Bangladesh's ready-made garment exports grew by 12 per cent to $23.552 billion, indicating a robust increase from the previous fiscal year.
Knitted and woven garments led this growth, which represents 83 per cent of the country's total exports, as per the EPB.
Exports of home textiles and cotton products also showed notable increases.

Ready-made garment (RMG) exports (Chapters 61 and 62) from Bangladesh increased by 12.00 per cent to $23.552 billion between July 2024 and January 2025, the first seven months of fiscal 2024–25 (July–June), according to provisional data from the Export Promotion Bureau (EPB). This marks an increase from $21.027 billion during the same period in fiscal 2023–24.

Knitted garment exports marginally outpaced woven garment exports in growth. During the first seven months of the current fiscal, exports of knitwear (Chapter 61) rose by 12.03 per cent to $12.687 billion, compared to $11.325 billion in the corresponding period of fiscal 2023-24. On the other hand, woven apparel exports (Chapter 62) increased by 11.97 per cent, totalling $10.864 billion, compared to $9.702 billion during the same period of the last fiscal, according to EPB data.

Home textile exports (Chapter 63, excluding 630510) experienced growth, increasing by 6.22 per cent to $493.86 million, compared to $464.93 million during the same period in the last fiscal. Collectively, exports of woven and knitted apparel, clothing accessories, and home textiles constituted 83.00 per cent of Bangladesh’s total exports, amounting to $28.969 billion for the period.

Exports of cotton and cotton products, including yarn, waste, and fabrics (Chapter 52), rose by 13.74 per cent to $369.39 million during the period under review, compared to $324.78 million in the same period of the last fiscal.

During January 2025, ready-made garment exports reached $3.664 billion, a 5.57 per cent rise from $3.471 billion in the same month of the previous year. Knitwear garment exports rose by 6.62 per cent to $1.850 billion, and woven garments increased by 4.52 per cent to $1.814 billion in the same month. The outbound shipment of home textiles (Chapter 63, excluding 630510) eased by 1.17 per cent to $83.05 million in January 2025. Exports of cotton and cotton products slipped by 0.32 per cent to $50.33 million from $50.49 million.

The new regime in Bangladesh had earlier revised export data downwards, according to which RMG exports from the country decreased by 5.22 per cent to $36.151 billion in fiscal 2023–24 (July 2023 to June 2024).

According to the EPB, RMG exports in fiscal 2022-23 amounted to $38.142 billion, compared to the previously reported figure of $46.991 billion. RMG exports were recorded at $42.613 billion in fiscal 2021-22 and $31.456 billion in fiscal 2020-21.

Fibre2Fashion News Desk (KUL)

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