In 2024, Bangladesh earned a total of $38.48 billion from ready-made garment (RMG) exports. As usual, the European Union (EU) beat the list with 50.34 per cent of the total export earnings, which is $19.37 billion.
During the month of January to December the previous year, RMG products worth $7.2 billion were exported to the United States, making up 18.72 per cent of total export earnings. The United Kingdom imported garments worth $4.3 billion, or 11.25 per cent of total export income.
Among EU countries, Germany was the top importer of Bangladeshi RMG products. The country imported $4.83 billion worth of garments, while Spain imported $3.42 billion and France $2.14 billion.
RMG products worth $1.24 billion were exported to Canada, which is 3.23 per cent of the total export income.
Garment exports to non-traditional markets, such as Japan and Australia, have also surged. Exports to these countries stood at $6.33 billion, which is 16.46 per cent of the total.
Japan led the non-traditional market, importing $1.12 billion worth of garments. Australia imported $831 million, India $600 million, Turkey $420.6 million, and Russia $340.3 million worth of garments.
Regarding this, former BGMEA director Mohiuddin Rubel told Bangladesh Pratidin that exports to non-traditional markets not only expand Bangladesh’s global reach but also validate the stability of the country’s ready-made garment sector.
Translated & edited by Fariha Nowshin Chinika
