Bangladesh's exports grow by 11% in July-February

Export earnings of Bangladesh grew by nearly 11% in the first eight months (July-February) of the ongoing fiscal year (FY25) compared to the same period last year.

During this period, the country exported goods worth $32.94 billion, up from $29.80 billion in the corresponding period of FY24, according to the latest data from the Export Promotion Bureau (EPB) released Tuesday.

Exports in February this year alone reached $3.97 billion, marking a 2.77% year-on-year increase from $3.86 billion.

The data show that ready-made garments remained the primary driver of export growth. Exports of agro-processed products, plastic products, frozen food and leather and leather products increased, while exports of home textiles, jute and jute products and engineering products declined.

The export target for FY25 is $50 billion, reflecting a 12.44% increase from the previous year.

In February of FY25, the RMG sector generated $ 3.24 billion, marking a 1.66% increase from $3.19 billion in the same period of FY24, and accounting for 81.66% of total export earnings.

Knitwear contributed $1.65 billion in February of FY25, up by 3.77% from $1.59 billion in February FY24, while woven garments earnings declined 0.44% to $1591 million from $1598 million in the same month of the previous fiscal year.

In the first eight months of the current fiscal year, ready-made garments worth $26.8 billion were exported, marking a 10.64% increase compared to the same period in the previous fiscal year.

Other sectors' performance

Among other major export sectors, agricultural products saw a positive growth of 7.03%, reaching $68.63 million, up from $64.12 million in February FY25.

Leather and leather goods increased by 11%, totalling $88.47 million in February of FY25, from $79.26 million in February of the previous year.

In February of FY25, home textiles experienced a slight decline of 0.23%, totalling $84.13 million, down from $84.32 million a year ago.

Export receipts from jute and jute goods fell by 11.39%, reaching $63.57 million in February of FY25, down from $71.74 million in February FY24.

Footwear exports saw a growth of 11.62%, reaching $88.47 million in February of FY25, up from $79.26 million in February FY24.

The pharmaceuticals sector also experienced a big fall by 22.55%, totalling $13.02 million in February of FY25, compared to $16.81 million in February of the previous fiscal year.