Dhaka, Bangladesh — In a remarkable turn of events, Bangladesh’s export earnings surged by 20.65% in October, reaching $4.13 billion. This marks a significant increase from $3.42 billion in October 2023, according to data released by the Export Promotion Bureau (EPB) on Sunday, November 10.
The EPB’s statistics reveal that during the July-October period of the fiscal year 2024-25, exports rose by 10.80%, totaling $15.78 billion compared to $14.24 billion in the same timeframe of the previous fiscal year. Notably, the ready-made garment sector, a cornerstone of the country’s exports, saw an 11.38% rise, generating $12.81 billion, up from $11.50 billion last year.
In October alone, the garment sector earned $3.29 billion, showcasing a staggering 22.80% growth compared to the previous year. This sharp increase is crucial for Bangladesh’s national export landscape, but industry leaders caution that the sustainability of this growth remains uncertain. Fazle Shamim Ehsan, Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), noted, “We shipped many goods that had been stuck in transit in October, which contributed significantly to the rise in export earnings. However, we need to wait a few months to comment on the trend of growth due to recent sectoral instability and slow order placements from buyers.”
Ehsan expressed concerns over the export sector’s resilience, stating, “We cannot find reasoning for such robust growth, and there are doubts about its sustainability. It is not the time for commentary; rather, we need to wait and see how things unfold. The garment sector has experienced unprecedented volatility in recent months, with buyers relocating orders.”
Exporters are emphasizing the need for security and stability in the garments sector to restore buyers’ confidence in Bangladesh. They are making a heartfelt appeal to the government to ensure ongoing support to maintain this growth trajectory.
In addition, earnings from agricultural exports totaled $113 million, reflecting a 6.95% increase. The plastic goods sector garnered $30 million, marking a notable 54.26% rise compared to $20 million a year earlier. However, earnings from leather and leather goods saw a 1% decline, dropping to $83 million, while jute and jute products fell by 7.63% to $79 million.
The specialized textile sector reported $36 million in exports, with an impressive 19.52% increase. Conversely, home textile exports dipped slightly by 0.4%, earning $64 million.
Interestingly, earnings from frozen and live fish exports rose by 32% in October, amounting to $52 million, up from $39 million in the same month last year. The pharmaceutical sector also performed well, with exports climbing 49% to reach $21 million.
While this growth represents a significant milestone for Bangladesh’s export sector, the path ahead must be navigated carefully amid global economic pressures and local challenges. The focus remains on ensuring stability and confidence to sustain these positive trends in the months to come.
