In the first eight months of the fiscal year 2024-25, Bangladesh's apparel exports to key markets like the EU, the US, and Canada registered a double digits growth as demand from major brands and retailers increased.  

As per data from the Export Promotion Bureau (EPB), Bangladesh's RMG exports grew by 10.64 per cent globally, reaching $26.79 billion during the period spanning July 2024-February 2025.  

Most of these exports were directed to the European Union, which absorbed 50.10 per cent of the total RMG exports, valued at $13.42 billion. Exports to the US reached $5.06 billion constituting18.91 per cent share, and Canada accounted for 3.16 per cent share with exports reaching $845 million. Exports to another significant market, the UK grew to $2.93 billion, representing 10.94 per cent of the total.  

In terms of growth, EU exports rose by 11.53 per cent Y-o-Y, while the US saw a robust 16.38 per cent increase, and Canada grew by 14.12 per cent.

The UK, however, experienced a more modest 3.74 per cent growth.  

Within the EU, Germany is the largest destination ($3.38 billion), followed by Spain ($2.35 billion), France ($1.43 billion), Italy ($1.05 billion), Poland ($1.13 billion), and the Netherlands ($1.43 billion). Notable growth was seen in Germany (11.03 per cent), the Netherlands (25.06 per cent), Poland (12.06 per cent), Denmark (14.58 per cent), and Sweden (21.12 per cent).

Exports to non-traditional markets also showed growth, with a 6.23 per cent overall increase, totaling $4.52 billion. Japan led these markets with $839 million in imports, followed by Australia ($582 million) and India ($478 million). Exports to Turkey ($305 million) and Mexico ($229 million) were also substantial.  

Specifically, exports to India increased by 18.58 per cent, Mexico by 25.14 per cent, and Turkey by 32.20 per cent. While exports to Japan, Australia, India, Turkey, and Mexico were positive, shipments to Russia, Korea, the UAE, and Malaysia declined.

Mohiuddin Rubel, Former Director, BGMEA, attributes this growth to shifting global trade dynamics, offering Bangladesh opportunities if it strengthens its production capabilities. He emphasizes on the need to invest in backward linkages to maintain RMG sector competitiveness.

Highlighting the continued importance of the EU and US markets, Rubel points out to the potential for growth in non-traditional markets. Diversifying into these regions could lessen the reliance on traditional destinations, he emphasizes.