Exports fetch $48.28b in FY25

Merchandise exports earned Bangladesh US$ 48.28 billion in the just- concluded fiscal year 2024-25 in a steady growth, bar the last month, banking heavily on the performance of readymade garments as usual.

Official statistics published Wednesday showed 8.58-percent year-on-year growth in the exports, excepting in the troubled month of June. The single-month export earnings witnessed a 7.55-percent decline to US$3.33 billion against US$3.61 billion in June 2024.

The country's total merchandise exports fetched US$44.46 billion in the fiscal year 2023-24, according to Export Promotion Bureau (EPB) data.

Despite the growth in annual performance in many sectors, the overall decline in June 2025 export earnings underscores the challenges, including ongoing global economic uncertainty, falling consumer demand in major markets, logistic issues and tough competition from other manufacturing hubs, facing Bangladesh in the short term.

Exporters attribute the export decline in the last month to the long Eid-ul-Adha holiday and a two-day complete shutdown of ports amid turmoil in the National Board of Revenue (NBR).

The single-largest export sector, RMG, maintained its dominance as Bangladesh's export earner contributing 81.49 per cent of the total earnings.

Out of the total US$48.28 billion, RMG fetched US$39.34 billion, marking 8.84-percent growth, according to EPB data.

Within the RMG segment, knitwear exports rose by 9.73 per cent to US$21.15 billion, while woven garments grew by 7.82 per cent to US$18.18 billion.

Home textiles marked a 2.42-percent growth to $871.57 million during July-June period of the last fiscal year.

Talking to The Financial Express, Fazlee Shamim Ehsan, executive president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), appeared upbeat about the continuous growth performance throughout the fiscal year.

"It is because buyers have confidence in us for many reasons, including quality and others," he said.

Besides, work orders from China are shifting and Bangladesh remains on top preference of brands and buyers to place the shifting orders.

Regarding June performance, he said US buyers are going slow and holding a certain portion of work orders due to the US's new tariff regimes waiting to see what is going to happen in the end.

Asked, Mahmud Hasan Khan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the growth rate would sustain in the coming months if the existing US tariff rates remain unchanged.

"But if it goes up for Bangladesh, as proposed earlier, it would be a big blow for the country," he warns.

Exporters, however, allege that they are in the dark over what negotiations with the US are going on.

Meantime, earnings from jute and jute goods exports continued to struggle, recording 4.10-percent decline to fetch US$ 820.16 million during July-June period.

However, monthly figures showed a slight improvement, with June export rising 7.14 per cent year on year.

Earnings from leather and leather products registered 10.19-per cent year-on-year growth, earning US$1.14 billion in FY'25.

Leather-footwear-export earnings increased 23.54 per cent to US$672.07 million.

Agricultural products earned US$988.62 million, showing 2.52-percent growth during the FY25, but in June alone, exports fell by 6.41 per cent compared to June 2024.

Talking to the FE, agricultural product exporters, however, cited a number of factors, including cut in cash incentives by the government, high import costs for most of the agricultural inputs and other ingredients mostly used for processing foods, paucity of required air spaces coupled with higher freight charges, for the declining trend in the sector's performance.

Frozen and live fish exports recorded 17.23-percent growth to earn US$441.58 million during July-June period of FY'25, led by shrimp shipment that increased by 19.32 per cent to US$296.29 million.

Engineering products recorded 10.03-percent growth and earned US$535.56 million.

Plastics exports came to US$284.05 million in the just-concluded fiscal year with a 16.21-percent growth.

Munni_fe@yahoo.com