October saw a noteworthy 20.6 per cent year-over-year increase in Bangladesh’s merchandise exports, the second consecutive month of strong performance. Despite production issues brought on by protracted labour strife, the ready-made garment (RMG) industry is primarily responsible for this rise.
Export earnings in October FY ’25 were US $ 4.13 billion, according to the most recent data from the Export Promotion Bureau (EPB). This is higher than the corrected US $ 3.42 billion in the same month of the previous fiscal year, which was first reported at US $ 3.76 billion.
The previous government’s export data anomalies were US $ 10 billion for FY ’24, as the EPB had previously pointed out. Duplicate export entries, production problems, incorrect classifications, and mistakes pertaining to export earnings below letter of credit (LC) values were the causes of these anomalies. For example, incorrect data showed US $ 55.55 billion in exports for FY ’23, when actual shipments were reported at US $ 46.43 billion. In a similar vein, FY ’24 exports were US $ 44.46 billion in reality, not the false US $ 55.28 billion reported.
The RMG industry reported exceptional earnings of US $ 3.30 billion in October of FY ’25, up 22.8 per cent from US $ 2.68 billion in the same month of the previous fiscal year. With knitwear providing US $ 1.86 billion (up 24.6 per cent) and woven clothes contributing US $ 1.44 billion (up 20.54 per cent), RMG exports made up 79.8 per cent of total export revenues.
Industry executives credit this increase in exports to the stabilisation of labour unrest in major industrial zones and the recovery of important export destinations, both of which have prompted the return of orders that had previously been relocated. All six of their manufacturing facilities are currently running at full capacity, and orders are already booked through January, according to Abdullah Hil Rakib, Managing Director of Team Group and former Senior Vice President of BGMEA.
The garment industry alone accounted for US $ 12.81 billion, or 81.2 per cent, of all goods exports during the first four months of the current fiscal year, which saw an overall 10.8 per cent increase in exports to US $ 15.79 billion from US $ 14.25 billion during the same period last fiscal year.
The performance of a number of other export categories, in addition to the RMG industry, varied. The entire value of leather and leather goods decreased by 1 per cent, reaching US $ 83.2 million. Exports of jute and jute-related products declined 7.6 per cent to US $ 78.9 million, while home textiles also down 1.21 per cent to US $ 185.52 million.
Positively, exports of footwear increased by 40.87 per cent to US $ 42.91 million, while the pharmaceutical industry had a notable 48.91 per cent growth to US $ 21.19 million.
Industry participants are optimistic that domestic political stability and global demand will support Bangladesh’s export performance in the upcoming months as the world economy changes.
