Exports grow 10.6pc in nine months of FY25

The country's merchandise export earnings rose by 10.63 per cent to $37.19 billion during the first nine months of the fiscal year 2024-25 based on the readymade garment (RMG) sector's strong and consistent growth.

Export earnings were $33.62 billion during the July-March period of the last fiscal year, according to the Export Promotion Bureau (EPB) data released on Monday.

The single-month earnings in March 2025 stood at $4.25 billion, marking an 11.44 per cent increase compared to the corresponding month of 2024.

The country's export earnings from the RMG sector stood at $30.25 billion during July-March of FY25, marking a 10.84 per cent year-on-year rise.

Knitwear exports rose by 11.22 per cent to $16.15 billion, while that of woven garments grew by 10.40 per cent to $14.10 billion.

The single-month RMG export earnings in March 2025 stood at $3.45 billion, 12.4 per cent higher than that in the same month last year.

When asked, EPB Vice-Chairman Md Anwar Hossain said garment continues to anchor the export landscape, showing strong and consistent growth both cumulatively and on a monthly basis.

Leather and leather goods, as well as light engineering products, registered notable growth, signalling the diversification potential of Bangladesh's export base, while home textiles, specialised textiles, and footwear sectors showed moderate growth, he added.

He also said they are working and taking all possible measures to reduce the tariffs imposed by the US and communicating with buyers.

According to exporters, Bangladeshi suppliers might face huge price squeeze from the US buyers as high tariffs would raise the products' prices while the possibility of investment being relocated from other countries, especially from China, might face setbacks.

Meantime, US buyers of the locally made apparel items have started renegotiation with some of their local suppliers, with a few asking to hold their shipments either in ports or factories while some others seeking price concession.

"Some buyers have already requested that shipments be put on hold until further notice. In particular, smaller buyers are pressuring suppliers to either absorb the full tariff or share the cost, which is not an ethical practice," Mohiuddin Rubel, former director of BGMEA, said.

He, however, said large brands and buyers have not made any decision yet.

It would be very difficult for exporters to absorb this, he said, adding they need to wait before making any decisions, saying under the open-cost business model, buyers are well aware of their suppliers' profit margins.

"We hope the brands will make their decisions with due consideration for the situation of their suppliers and the over four million workers in the apparel industry. We believe they will not abandon anyone," he added.

Meantime, home textile exports increased by 4.94 per cent to $677.6 million during July-March of FY25, according to EPB data.

Exports of leather and leather products during the first nine months of the current fiscal year stood at $852 million, up by 9.89 per cent year-on-year.

Earnings from leather footwear increased by 25.24 per cent to $496.17 million during the period.

Plastic products posted a robust 20.66 per cent growth, bringing in $226.29 million during the period.

Earnings from jute and jute goods, however, continued a decline of 7.68 per cent, falling to $626.29 million during the first nine months of the current fiscal year.

Though agricultural products grew by 6.14 per cent to $807.06 million during July-March of FY25, earnings from the sector recorded a 25.72 per cent fall in March 2025 over that of March 2024.

Frozen and live fish exports rose by 13.77 per cent to $343.28 million during the period. However, shrimp exports faced a setback in March, declining by 8.05 per cent year-on-year.

Pharmaceutical products continued to show promise, with exports rising by 7.92 per cent to $165.48 million during the July-March period of the current fiscal year.

munni_fe@yahoo.com