In 2024, Bangladesh’s ready-made garment (RMG) exports reached an impressive US $ 38.48 billion, reflecting the sector’s robust performance. The European Union continued to be the largest market for Bangladeshi garments, accounting for 50.34 per cent of total exports, which amounted to US $ 19.37 billion.
Following the EU, the United States was the second-largest market, importing RMG products worth US $ 7.2 billion, or 18.72 per cent of the total. The United Kingdom contributed significantly as well, with exports reaching US $ 4.3 billion, making up 11.25 per cent of the overall figure. According to Mohiuddin Rubel, a former director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Germany, Spain, and France were key players in the EU market, with imports valued at US $ 4.83 billion, US $ 3.42 billion, and US $ 2.14 billion, respectively. Additionally, Canada emerged as an important market, importing US $ 1.24 billion worth of garments, representing a 3.23 per cent market share.
In a noteworthy trend, Bangladesh is making significant inroads into non-traditional markets. Exports to countries such as Japan, Australia, India, Turkey, and Russia totaled US $ 6.33 billion, accounting for 16.46 per cent of total RMG exports. Japan led this group with US $ 1.12 billion in exports, followed by Australia at US $ 831 million, India at US $ 606 million, Turkey at US $ 426 million, and Russia at US $ 343 million.
This strategic expansion into non-traditional markets is enhancing the diversity of Bangladesh’s export portfolio and bolstering the resilience of its RMG industry on the global stage.
