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Bangladesh's exports saw a growth of 11.76 per cent in the five months from July-November of FY2024-25 compared to the same period of the previous fiscal year.
According to data from the Export Promotion Bureau (EPB), Bangladesh exported goods worth US $19.9 billion in the July-November period of the current FY 2024-25, of which 80.97 per cent were ready-made garment products.
Bangladesh’s share of apparel exports into the US market decreased by 3.33 per cent year-on-year in the January-October period, UNB reports.
The apparel export share of China decreased by 1.06 per cent in the US market. India and Vietnam’s apparel exports in the US market grew by 2.68 per cent and 3.93 per cent, respectively, in the discussed period.
Bangladesh's ready-made garment (RMG) exports have been growing, and the country is the second-largest exporter of RMGs in the world. Vietnam is Bangladesh’s competitor in the global market, and its rising share in the US market indicates that the country (Vietnam) is gaining an additional advantage, said businessmen in this sector.
In the financial year 2022–2023, Bangladesh's RMG exports reached $47 billion, up from $42.6 billion in the previous year. In the period from July 2023 to May 2024, RMG exports increased by 2.86 per cent to $43.85 billion.