As evidence of the industry’s continued prosperity, Bangladesh’s ready-made garment (RMG) exports reached an astounding $38.48 billion in 2024. Remaining the largest market, the European Union accounted for 50.34% of all RMG exports, which were worth $19.37 billion.
According to UNB, Mohiuddin Rubel, the previous director of BGMEA, supplied the statistics, which showed that the United States contributed $7.2 billion (18.72%) and the United Kingdom contributed $4.3 billion (11.25%). With imports of RMG goods totaling $4.83 billion, $3.42 billion, and $2.14 billion, respectively, Germany, Spain, and France were important EU markets. Canada also contributed a noteworthy contribution, with exports reaching $1.24 billion and a 3.23% market share.
Bangladesh is making significant progress in non-traditional areas outside its traditional markets. Exports totaling $6.33 billion, or 16.46% of RMG exports, were made to nations such as Russia, Turkey, Japan, Australia, and India. With $1.12 billion in exports, Japan led these markets, followed by Australia ($831 million), India ($606 million), Turkey ($426 million), and Russia ($343 million).
Bangladesh’s export base is becoming more diversified as a result of its entry into non-traditional markets, and its RMG sector is becoming more resilient globally.
Source: The Financial Express
