Bangladesh’s exports soared to an all-time high of $50 billion in 2024, fueled by a sharp spike in December. This milestone provided much-needed relief for an economy navigating external pressures and challenges. Export growth rose by 8.3% year-on-year, as per data from the Export Promotion Bureau (EPB) stated in a report.
The December boom contributed $4.62 billion, an 18% increase compared to the same month in 2023, making it the strongest month since March 2024, when exports crossed $5 billion. The readymade garment (RMG) sector played a pivotal role, earning $19.88 billion in the first half of fiscal 2024-25, a 13.28% year-on-year increase.
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Knitwear exports rose 13.01% to $10.83 billion, while woven garments brought in $9.05 billion, up 13.60%. Other sectors also saw remarkable growth: leather goods surged 10.44% to $577.29 million, cotton products grew 16.32% to $319.06 million, and non-leather footwear exports skyrocketed by 39.10% to $273.89 million.
Plastic goods exports increased by 29.72%, while agricultural products and frozen fish grew by 9.31% and 13.01%, respectively. Home textiles also saw a 7.85% uptick, reaching $410.81 million.
However, traditional exports like jute and jute goods faced challenges, with shipments falling 8.11% to $417.39 million during July-December.
Industry leaders, including Shams Mahmud of Shasha Denims Ltd and former BGMEA president Faruque Hassan, expressed optimism for the future. According to Hassan, easing inflation in major Western markets like Europe and the US, along with rising demand for value-added garments such as suits and jackets, positions Bangladesh’s RMG sector for sustained growth.
The leather industry also thrived, with significant seasonal boosts from winter footwear orders for Christmas, said Nasir Khan of Jennys Shoes. Businesses are hopeful that 2025 will bring stability after navigating inflation, labor unrest, and natural disasters in recent years.
Despite the hurdles, Bangladesh’s resilient exporters have proven their strength and reliability, earning the confidence of international buyers and setting the stage for further growth in the years to come.
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